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Troo Good raises $9 Mn led by Puro Wellness

EntrackrEntrackr · 9m ago
Troo Good raises $9 Mn led by Puro Wellness
Medial

Troo Good, a millet-based snack brand, has raised $9 million in a new round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments have also participated. Entrackr had exclusively reported about the funding earlier this month. The company has raised around Rs 132 crore (around $15.7 million) to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. The proceeds will be used to support the company’s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round

EntrackrEntrackr · 9m ago
Exclusive: Snack brand Troo Good raises Rs 72 Cr in new round
Medial

Troo Good, a millet-based snack brand, has raised Rs 72 crore (approximately $8.6 million) from Oaks Asset Management, with participation from Puro Wellness and V Ocean Investments. The board at Troo Good has passed a resolution to issue 10,176 equity shares to raise the aforementioned sum, its regulatory filing accessed by Entrackr from Registrar of Companies shows. Existing investor Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. The filing also mentioned that the company will use these funds to meet its working capital requirements. The company has raised around Rs 132 crore to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment. Following the recent funding, Oaks Asset Management will hold a significant 28.89% of the capital, while Puro Wellness and V Ocean Investments will command stakes of 7.75% and 14.28%, respectively. Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day. While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.

ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week

Economic TimesEconomic Times · 9m ago
ETtech Deals Digest: Startup funding drops 54% on year to $77 million this week
Medial

- Startups raised $77 million between September 28 and October 4, a 54.5% decrease from the same period last year. - This week, startups secured funding through 14 rounds, compared to 44 rounds in the year-ago period. - MStack, a specialty chemicals startup, raised $40 million in a funding round led by Lightspeed Venture Partners and Alpha Wave Global. - Basic Home Loan, a fintech startup, raised $10.6 million in a series B funding round led by Bertelsmann India Investments. - Troo Good, a snack brand, raised $8.6 million in a funding round led by Oaks Asset Management. - Str8bat, a sports technology startup, raised $3.5 million in a series A funding round led by Exfinity Venture Partners.

Beyond Snack raises $8.3 Mn in Series A round

EntrackrEntrackr · 6m ago
Beyond Snack raises $8.3 Mn in Series A round
Medial

Kerala-based banana chips brand Beyond Snack has raised $8.3 million in its Series A funding round led by 12 Flags Group, a consumer business-focused fund established by Rakesh Kapoor, the former global CEO of Reckitt Benckiser. Existing investor NAB Ventures also participated in this round, increasing its stake in the company. Japanese VC firm Enrission India Capital and other existing investors, including Faad Network, also joined. Earlier in July 2023, the brand had raised $3.5 million in a pre-Series A round from the NABVENTURES Fund. The proceeds will be used to drive Beyond Snack’s expansion into new territories, add product innovation, and strengthen its supply chain infrastructure. Founded by Manas Madhu, Jyoti Rajguru, and Gautam Raghuraman, Beyond Snack is a plant-based savory snacks brand that produces its banana chips with no artificial colors or flavors. Beyond Snack claims to have expanded its global footprint. Currently available in 12 countries, the brand is exploring new international markets, where it has seen strong demand for its products.

Snack brand Let’s Try raises $2.5 Mn led by SWC Global

EntrackrEntrackr · 3m ago
Snack brand Let’s Try raises $2.5 Mn led by SWC Global
Medial

Snack brand Let’s Try raises $2.5 Mn led by SWC Global Snack brand Let’s Try has raised $2.5 million in its latest funding round led by Singapore-based SWC Global. The existing investors are Wipro Consumer, 100Unicorns, Venture Catalysts, and boAt Lifestyle founder Aman Gupta. Prior to this, the company had secured $1.56 million from its existing investors. The proceeds will be channeled towards expanding distribution across Tier 1, 2, and 3 cities, strengthening its supply chain and backend operations, launching a diverse range of health-forward snacking options, and investing in digital and offline brand-building initiatives, Let’s Try said in a press release. Launched in 2021 by Nitin Kalra, Let’s Try aims to make delicious, high-quality snacks accessible to every Indian household. The brand offers a wide range of premium yet affordable snacks, including namkeens, wafers, cookies, cakes, and sweets, all made with top-quality ingredients. It was also featured on Shark Tank India. According to the Delhi-based company, it plans to introduce several new SKUs in modern trade and regional formats to appeal to a wider consumer base while deepening its presence across e-commerce platforms and D2C channels. As per market research, the snack market is estimated at Rs 50,000 crore, growing annually at 12%. In three years, Let’s Try claims that it has scaled its revenue from Rs 1 crore to Rs 120 crore in ARR and has set a target of crossing Rs 1,000 crore in revenue by 2028.

Good Monk raises $2 Mn in pre-Series A round led by RPSG Capital

EntrackrEntrackr · 3m ago
Good Monk raises $2 Mn in pre-Series A round led by RPSG Capital
Medial

Good Monk, the flagship brand of Superfoods Valley, has raised $2 million in pre-Series A funding round led by RPSG Capital Ventures along with participation from existing investors Multiply Ventures, Sharrp Ventures, and ThinKuvate. The proceeds will be utilized to invest in R&D and product development to present better nutritional alternatives. Co-founded in 2022 by Amarpreet Singh Anand and Sahiba Kaur, Good Monk offers a range of products, including multivitamin and probiotic mixes, fiber supplements, and over 50 nutrition mixes for seniors. The Bengaluru-based company aims to make nutrition accessible and easy, focusing on nutritional transparency and community engagement, particularly supporting less privileged communities. It is also known for contributing a portion of their sales to mid-day meal programs. Good Monk is currently retailing across its website and leading e-commerce platforms like Amazon and Flipkart. The brand claims to have built a strong consumer base and grown 11X in the last 12 months. RPSG Capital has invested in the nutrition, health, and wellness space and backed companies in this category such as Nutrabay, Plix, and True Elements.

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