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The Whole Truth raises $51 Mn in Series D funding

EntrackrEntrackr · 17d ago
The Whole Truth raises $51 Mn in Series D funding
Medial

The Whole Truth raises $51 Mn in Series D funding Clean-label health food brand The Whole Truth has raised about $51 million in a Series D funding round led by Sofina and Sauce.vc. The round comprises a mix of primary and secondary capital and saw participation from existing investors Peak XV Partners and Rainmatter Health, along with Ayra Ventures. Entrackr exclusively reported on the Series D funding last month. The fresh capital will be deployed to expand in-house manufacturing capacity, strengthen working capital, and build internal systems required for public market readiness. An ET report said the latest funding is the start of the company’s IPO journey, with profitability identified as the next key milestone. Founded by former Unilever executive Shashank Mehta, The Whole Truth focuses on clean-label packaged foods. Its product portfolio includes protein bars, protein powders, nut butters, and dark chocolates. Cofounder Rachna Aggarwal leads product development at the firm. Previously, the startup had raised $15 million in a Series C funding round led by Sofina in February last year, with participation from Z47, Peak XV Partners, and Sauce.vc. Since its Series C round in January 2025, the company claims to have grown threefold. Financially, The Whole Truth’s revenue from operations surged 232% to Rs 216 crore in FY25 from Rs 65 crore in FY24. During the same period, the company’s loss increased 17% to Rs 28 crore in FY25 from Rs 24 crore in FY24. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D

EntrackrEntrackr · 1m ago
Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D
Medial

Exclusive: The Whole Truth to raise around $34 Mn at $400 Mn valuation in Series D Clean-label health food brand The Whole Truth is all set to raise Rs 304 crore (around $34 million) in its Series D round led by existing investor Sofina Ventures with the participation from Sauce.VC and Frangipani Capital. Previously, The Whole Truth raised $15 million in a Series C funding round led by Sofina, with participation from Z47, Peak XV Partners, and Sauce.VC in February last year. The board at The Whole Truth has passed a special resolution to approve the issue of 67,596 Series D CCPS at an issue price of Rs 44,993 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Sofina Ventures is set to lead the Series D round with an investment of Rs 190.2 crore ($21 million), while existing investor Sauce.VC is contributing Rs 110 crore ($12.2 million) and Frangipani Capital has also joined the round with Rs 3.92 crore. The company has already received the investments from Sauce.VC and Frangipani Capital, while Sofina’s capital infusion is yet to be received. The fresh capital will be deployed to meet the company’s financial requirements and support business expansion. According to Entrackr’s estimates, the Mumbai-based firm’s post-money valuation is set to rise 69% to Rs 3,604 crore ($400 million) from Rs 2,135 crore ($254 million) in the previous Series C round. The company may raise more capital in this round and the valuation will vary accordingly. As per a separate filing, in addition to the funding, the company has expanded its ESOP pool by 13,208 options worth Rs 59.42 crore, taking the total ESOP pool value to Rs 221.6 crore ($24.6 million). The Whole Truth sells a wide range of products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The platform offers subscription plans and claims that around 80–85% of its sales are generated through its website, with the rest coming from partnerships. The Peak XV-backed company had raised around $38 million prior to this round. Following the latest infusion, Sofina Ventures will hold a 9.28% stake in the company, while Sauce.VC will own a 10.43% stake. The Whole Truth posted a 3.3X year-on-year growth in its revenue to Rs 215.8 crore in FY25 from Rs 65.3 crore in FY24. However, the company’s losses also rose by 18% to Rs 28.15 crore during the same period.

Exclusive: Leap Finance in talks to raise $100 Mn; seeks over $1 Bn valuation

EntrackrEntrackr · 1y ago
Exclusive: Leap Finance in talks to raise $100 Mn; seeks over $1 Bn valuation
Medial

Leap Finance, a fintech platform for Indian students pursuing higher education overseas, is in talks to raise around $70–100 million in a new round, according to two sources aware of the development. The company is seeking fresh investment after more than two years of its Series D round. “Leap has been doing well for the past two years which attracted interest from several investors including internals,” said one of the sources requesting anonymity as talks are private. “The firm is in talks with at least three new investors to raise up to $100 million in Series E round.” Leap is likely to become a unicorn with this round, said sources. San Francisco-incorporated Leap last raised $75 million in its Series D round led by Owl Ventures with participation from Steadview, Paramark Ventures, Jungle Ventures and Peak XV in June 2022 in a valuation range of $850-900 million. Its exact valuation, shareholding and revenue couldn’t be ascertained as the firm parent entity isn’t registered in India. “The terms of the deal are currently being negotiated with two of the three new investors and Leap would finalise lead for the new round in a few weeks,” said another source who also wished not to be named. “It’s seeking $1 to 1.2 billion valuation in the Series E.” Sources assert that Leap has grown multi-fold since its Series D round. The firm enables educational loans for students keen on pursuing education in overseas universities. It offers test prep apps for IELTS, TOEFL, SAT; admissions and visa counseling as well as financial offerings through LeapScholar, LeapFinance, and Yocke. It also assists with international bank accounts, credit cards, and money remittance. “The new round will be a mix of primary and secondary capital, and some early investors including angels may take partial or full exit from the company,” said the source quoted above. Leap has declined to offer comment on the story. Queries sent to Owl Ventures, Jungle Ventures, Steadview and Peak XV did not elicit any response until publication of the story. The five-year-old firm has raised $175 million until Series D round and claims to have funded more than 3,000 students since 2021. It largely focuses on institutes in the US, Canada, UK and Australia. While edtech startups have been struggling to raise funds for the past couple of years, overseas education-focused finance platforms have cornered decent funding during the period. As per data compiled by TheKredible, Leap and its competitors such as Auxilo, Avanse Financial, Financepeer, Propelld, Grayquest, and Eduvanz collectively cornered around $500 million in the last 24 months. The strong preference to study abroad for superior exposure is a significant growth driver for companies like Leap, Leverage Edu, and CollegeDekho. Incred, a prominent player in the overseas educational loan space, reported that such loans accounted for 21% of its total disbursal in FY24. According to InCred’s founder, Bhupinder Singh, the growth prospects and increasing awareness in this segment have contributed to its [overseas educational loan] rapid expansion.

Scapia raises $40 Mn in Series B led by Peak XV

EntrackrEntrackr · 10m ago
Scapia raises $40 Mn in Series B led by Peak XV
Medial

Scapia raises $40 Mn in Series B led by Peak XV Travel fintech company Scapia has raised $40 million in its Series B round led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3State Ventures. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI, and accelerate its ambitious growth plans, Scapia said in a press release. According to the company’s regulatory filings, it has secured Rs 289 crore ($34 million) so far, with the remaining funds expected soon. In this round, Peak XV Partners took the lead, investing Rs 218 crore ($25.6 million), followed by Elevation Capital with Rs 62.28 crore ($7.3 million) and 3State Ventures contributing Rs 8.65 crore ($1.02 million). According to a separate resolution, the Bengaluru-based company also expanded its ESOP pool by 3,460 ESOP options. The newly added ESOP will be valued at Rs 22 crore, while the total pool now stands at Rs 132 crore (approximately $15.5 million). Entrackr estimates that the company’s post-money valuation stands at Rs 1,645 crore or $193.5 million. The valuation may vary after completion of the round. Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Scapia’s co-branded card with Federal Bank offers great value with no joining or annual fees, zero forex markup, and free unlimited domestic lounge access and airport perks based on monthly spending. Cardholders get 10% rewards on all purchases and 20% rewards on travel bookings made through Scapia. Scapia has raised over $70 million to date, including its $23 million Series A round led by Elevation Capital and 3State Ventures in November 2023. According to startup data intelligence platform TheKredible, Peak XV Partners became the largest external shareholder with a 13.74% stake, followed by Matrix Partners at 13.68%. Its FY24 appeared to be the first operational year, recording a revenue of Rs 17 crore while incurring a loss of Rs 88 crore during the same period. The company competes with the likes of One Card, which posted Rs 1,425 crore revenue, and Zolve, which stood at a revenue of Rs 67.8 crore in the fiscal year ended March 2024.

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