Food brand The Whole Truth (TWT) has raised $15 million in its Series B round, led by Sequoia Capital India. The round also saw participation from existing investors Matrix Partners India and Sauce.Vc.
The company, which also includes angel investors such as Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy) and Jaydeep Burman (Rebel Foods), raised its Series A funding round in 2021.
It will use the fresh funds towards scaling up the brand’s in-house manufacturing capacity, hiring great talent, and in growing retail distribution.
TWT, which was founded in 2019 by Shashank Mehta, an ex-Unilever marketer, makes educational content that helps consumers understand and decode their food choices. Its offerings include chocolates, protein bars, peanut butters, and muesli.
Shashank Mehta, Founder and CEO of The Whole Truth Foods said, “From Day 1, we’ve maintained we’re not a food-brand. We’re a truth brand. Fighting to bring truth back to food. To make food real again. And we intend to bring this philosophy to all food categories where consumers are being sold half-truths.”
He added, “With this new fundraise, hence, nothing changes. We’ll continue to innovate and enter more categories. We’ll continue to grow distribution and bring our existing products to more consumers. And we’ll continue to make clutter-breaking, myth-busting content that educates consumers. Because what we read and believe, is what we eat and repeat.”
“Sequoia Capital India is delighted to double-down on the partnership with The Whole Truth. We have been working with Shashank, Rachna, and team for over a year and a half now and have been very impressed with their product innovation engine, marketing acumen, and overall quality of execution. We are excited about the journey ahead,” said Abhishek Mohan, Principal at Sequoia India.
“We're excited to double down on our investment in The Whole Truth (TWT), and recommit to Shashank, Rachna, and the team. With the launch of chocolates, they're taking TWTs philosophy and execution to one of the largest categories that can impact millions of people including kids. Privileged to be part of this partnership with Sequoia Capital India, Sauce, and others - looking forward to the journey ahead!” said Vikram Vaidyanathan, Managing Director at Matrix Partners India.
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