(TWT), a 100% clean-label food brand, on Monday said it raised nearly $15 million in a Series B funding round led by Sequoia Capital India.
Existing investors, including Matrix Partners India and Sauce.VC, and angel investors Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy), and Jaydeep Burman (Rebel Foods) also participated in the funding round.
The startup said it will deploy the fresh capital to scale up its in-house manufacturing capacity, hire talent, and grow its retail distribution.
Founded by Shashank Mehta, an ex-Unilever marketeer, The Whole Truth is the result of his life-long struggle with obesity, and his realisation that the main culprit was unhealthy packaged food, loaded with hidden sugars and chemicals, masquerading as healthy.
“From Day 1, we’ve maintained we’re not a food brand. We’re a truth brand… We intend to bring this philosophy to all food categories where consumers are sold half-truths. From protein bars to chocolates and beyond. With this new fundraise… we’ll continue to innovate and enter more categories,” said Shashank Mehta, Founder and CEO of The Whole Truth Foods.
“We’ll continue to grow distribution and bring our existing products to more consumers. 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,” he added.
Since its Series A round in July 2021, TWT claims to have grown 7X, launched 100% clean-Label, bean-to-bar chocolates, and grown physical distribution to over 10 cities.
With its proprietary R&D and in-house manufacturing, the brand managed to eliminate all hidden sugars, artificial flavours, and harmful preservatives from its food.
“Sequoia Capital India is delighted to double down on the partnership with The Whole Truth. We have been working with Shashank, Rachna, and the team for over a year and a half now, and we are 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.
