The company has so far raised Rs 52 crore including this round.
The latest round saw participation from existing investors Matrix Partners India and Sauce.Vc, along with a clutch of marquee angels like Flipkart CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar and BharatPe co-founders Ashneer Grover and Shashvat Nakrani. Earlier, angels in the company include Zerodha co-founder Nithin Kamath and Swiggy co-founder Sriharsha Majety.
The company will use the fresh capital to hire talent, expand manufacturing capabilities and enter new food categories. The Mumbai-based company claims to have grown 12x in the last 18 months. They have about 30 employees and plan to add 20 more in the next six months. More than half of the brand’s sales come from its own website, founder Shashank Mehta told ET.
Founded in 2019 by Mehta, an ex-Unilever marketeer, the company sells clean label bars and muesli without hidden sugars, artificial flavours and harmful preservatives. Rachna Aggarwal, a bakery chef and chocolatier, heads its product development.
“At TWT, we are hell-bent on bringing truth back to food. We do this through our 100% clean-label products, and through clutter breaking content that helps consumers spot the misleading information they are being provided,” said Mehta.
Abhishek Mohan, principal at Sequoia India, said in a statement that Sequoia Capital India is thrilled to partner with The Whole Truth. “They have a simple yet very powerful mission of making 100% clean-label food. We have been very impressed with the customer love for their early set of products and excited about the journey ahead,” he said.