The Whole Truth Secures $15 Million in Series C Funding
Clean-label health food brand The Whole Truth (TWT) has successfully raised $15 million in a Series C funding round, led by Sofina. This round also saw participation from existing investors such as Z47, Peak XV Partners, and Sauce.VC. Notable angel investors, including Nithin Kamath from Zerodha, Sriharsha Majety from Swiggy, and Jaydeep Burman from Rebel Foods, have previously supported the brand in earlier investment phases. This development was exclusively reported by Startup Superb last week.
The funding will be directed towards expanding in-house manufacturing capabilities, acquiring new talent, and fostering category growth. Founded by former Unilever marketer Shashank Mehta, The Whole Truth features a variety of products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The brand offers subscription options and claims that a substantial 80-85% of its revenue is generated through its website, while the remainder comes from partnerships.
In its efforts to broaden its market reach, The Whole Truth is targeting demographics that are often overlooked, including women, teenagers, and older adults. Besides its flagship offerings, the company is actively transforming the $40 billion packaged food market in India.
The Whole Truth reported an impressive 81% growth in revenue year-on-year, with figures climbing to Rs 65.3 crore in FY24 from Rs 35.96 crore in FY23. During this period, the company also managed to reduce its losses by 33%.
In the competitive landscape, The Whole Truth is up against brands like Yoga Bar, Slurrp Farm, True Elements, Opensecrets, and Monsoon Harvest.