Food Brand The Whole Truth Raises Series A Funding
The Whole Truth Foods, a clean label health food brand, has raised Rs 42.6 crore or close to $6 million in a Series A funding round led by Sequoia Capital.
First reported by Entrackr, the funding round also saw participation from existing backers, along with eight angel investors.
In this funding round, Sequoia Capital has invested Rs 21 crore, whereas existing investors Matrix Partners and Sauce.vc have put in Rs 13.5 and Rs 5 crore, respectively. Sujeet Kumar (Udaan’s co-founder) has invested Rs 1 crore, whereas Kyush Investments and Yatin Shah have put in Rs 50 lakh each.
Started by Shashank Mehta, The Whole Truth is rebuilding the world’s trust in its food and positions itself as a healthy and clean snack brand. The portfolio of the food brand includes protein bars, immunity balls and muesli.
As reported by Entrackr, the food brand has recorded revenue from operations of Rs 73.21 lakh during the fiscal ended in March 2020 and spent Rs 1.71 crore during the same period, incurring a loss of Rs 93.1 lakh.
The Whole Truth offers subscriptions and claims to have 80-85% sales through its website, while the remaining sales come from partnerships with gyms and health clubs.
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