Open Secret, a Mumbai-based health snack D2C startup, has raised Series B funding led by Ananta Capital. Existing investors—Sixth Sense Ventures and Matrix Partners India, along with Gautam Kumra, Chairman-Asia, and Mckinsey & Company, also participated in the funding round.

As per the D2C startup, the freshly raised capital will be used to launch more products, build capacity, strengthen the team, scale up the capabilities in tech, and expand its omnichannel distribution presence.

Open Secret | Un-junking India’s Snack Time

Founded by Ahana Gautam and Udit Kejriwal in 2019, Open Secret is a Mumbai-based health snack D2C startup that aims to become a destination for the healthy snacking needs of families.

Speaking on the development, Ahana Gautam, CEO and Co-founder of Open Secret, said,  

“There has been a structural shift in consumer behaviour—India has been a supply-constrained market, and with the Open Secret platform, we want to address that. We are on a path to becoming a leading snacking destination by un-junking snacks in India, which is a $15 billion category. We are reimagining the entire lifecycle of the snacking industry. Excited to partner with Ananta Capital on this next phase of growth and to build upon our partnership with Sixth Sense and Matrix.”

Over the past year, the D2C brand has experienced 10X growth, driven by strong consumer demand across its expanding portfolio of products. Additionally, the Mumbai-based brand has added nine new categories over the last nine months.

Commenting on the development, Lovkesh Kapoor, Managing Partner at Ananta Capital, said,

“We are very happy to partner with Open Secret in their journey to unjunk the Indian snacking segment. We believe that post-COVID-19 consumers’ preference for healthy snacks has considerably increased, and there is momentous white space in the category. Open Secret has demonstrated quick success in multiple product categories across various distribution funnels.”

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