Mumbai-based health food brand The Whole Truth (TWT) has secured $15 million in a Series C funding round led by European investment firm Sofina. Existing investors, including Z47, Peak XV Partners (formerly Sequoia India), and Sauce.VC, also participated, alongside angel investors such as Zerodha founder Nithin Kamath, Swiggy co-founder Sriharsha Majety, and Rebel Foods co-founder Jaydeep Burman.
The latest funding takes TWT&rsquo;s total capital raised to $37.6 million across six early-stage rounds, according to Tracxn.
Expanding the Clean-Label Movement
Founded in 2019 by ex-Unilever marketer Shashank Mehta, TWT is known for its clean-label health foods, including protein bars, peanut butter, dark chocolates, muesli, and energy balls, all free from artificial additives. The brand also creates educational content to help consumers better understand ingredient lists.
&ldquo;TWT is not just building a brand&mdash;they&rsquo;re leading a movement to restore trust in food and make it real again,&rdquo; said Vikram Vaidyanathan, managing director at Z47, one of TWT&rsquo;s earliest backers.
Purpose of Fundraising &amp; Growth Strategy
The fresh capital will be utilized for in-house manufacturing expansion, hiring, and diversification into new product categories. The brand, which derives 80-85% of its sales from its website, aims to expand its consumer base beyond fitness enthusiasts to women, teenagers, and older adults seeking healthier snack options.
TWT competes with Yoga Bar, Slurrp Farm, True Elements, Opensecret, Monsoon Harvest, Wellbeing Nutrition, OZiva, and Plix, tapping into India&rsquo;s growing health and wellness market.
Financial Performance
TWT reported an 81% revenue surge in FY24, reaching ₹65.3 crore from ₹35.96 crore in the previous year. The company also managed to reduce losses by 33%, signaling improved financial health.
&ldquo;At Sofina, we invest in mission-driven companies with long-term impact. TWT&rsquo;s vision to redefine clean-label nutrition aligns with our values,&rdquo; said Yana Kachurina, Principal at Sofina.
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Source : Indian Startup News

Mumbai-based health food brand The Whole Truth (TWT) has secured $15 million in a Series C funding round led by European investment firm Sofina.

The Whole Truth Raises $15M in Series C Round Led by Sofina