Healthy food brand The Whole Truth (TWT) has raised $15 million in Series C funding led by European investment firm Sofina. The round also saw participation from existing investors, including Z47, Peak XV Partners, and Sauce.VC.
Angel investors such as Nithin Kamath of Zerodha, Sriharsha Majety of Swiggy, and Rebel Foods’ Jaydeep Burman have also backed the company in earlier rounds.
This fresh infusion of capital will fuel the brand’s in-house manufacturing expansion, talent acquisition, and category growth, the company said in a statement.
“Shashank and the team at The Whole Truth are not just building a brand—they're leading a movement to restore trust in food; and making food real again. Their growth over the last year proves that the mission resonates with consumers and definitely with us at Z47,” said Vikram Vaidyanathan, Managing Director at Z47 – which has been one of the earliest backers of the Mumbai-based startup.
To date, the company has raised $37.6 million in funding across six early-stage rounds, according to data from Tracxn – a market intelligence platform. Its last major fundraise came in January 2023, when it had picked up $15 million in series B funding led by Peak XV (formerly Sequoia India) at a valuation of $72.6 million.
Since then, TWT has grown 3.5-fold, which would value the company at roughly $250 million post its series C round.
“At Sofina, we are dedicated to investing in companies that are mission-driven and share our values of quality and long-term impact. The Whole Truth's mission to redefine clean-label nutrition and build consumer trust strongly aligns with our vision,” said Yana Kachurina, Principal, Sofina.
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 protein powders, chocolates, protein bars, peanut butters, and muesli. The firm competes with brands like Wellbeing Nutrition, OZiva, and Plix, among others.
The funding round comes amid growing investor interest in healthy and clean food startups, especially at the early stage.
Healthy food brand Salad Days raised Rs 30 crore in series A funding from V3 Ventures In January. Before that, Fambo, a startup providing fresh produce from farms to restaurants, also picked up $2.5 million from EV2 Ventures earlier that month.
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