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Troo Good raises $9 Mn led by Puro Wellness

EntrackrEntrackr · 10m 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.

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

EntrackrEntrackr · 11m 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.

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

EntrackrEntrackr · 4m 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.

Mosaic Wellness raises $20 Mn at $400 Mn valuation

EntrackrEntrackr · 4m ago
Mosaic Wellness raises $20 Mn at $400 Mn valuation
Medial

Exclusive: Mosaic Wellness raises $20 Mn at $400 Mn valuation Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, has raised Rs 175 crore (approximately $20 million) from Think Investment in a new round. The board at Mosaic Wellness has passed a special resolution to issue 16,279 compulsory convertible preference shares at an issue price of Rs 1,07,500 each to raise Rs 175 crore or $20 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The filings further noted that the company plans to utilize the fresh capital for growth, expansion, and general corporate purposes. According to Entrackr estimates, the company has been valued at around $400 million post-allotment. Following the fresh proceeds, Think Investment will hold 5.04% of the company. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. Mosaic Wellness has raised over $65 million to date, including its $24 million Series A led by Peak XV along with existing investors Elevation Capital and Matrix Partners India in 2021. As per the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder, followed by Peak XV and Matrix Partners. The company has recorded a 61.7% year-on-year growth to Rs 333 crore during the fiscal year ended March 2024, compared to Rs 206 crore in FY23. Moreover, the firm managed to control its losses by 37.1% to Rs 39 crore in the same period.

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

Economic TimesEconomic Times · 10m 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.

Deeptech manufacturing startup Leumas raises $2.2 Mn in Seed round

EntrackrEntrackr · 2m ago
Deeptech manufacturing startup Leumas raises $2.2 Mn in Seed round
Medial

Deeptech manufacturing startup Leumas has raised $2.2 million in a seed funding round led by Capital 2B, a deeptech-focused fund backed by Info Edge and Temasek, along with participation from Capital-A and Anicut Capital. The proceeds will be used to expand its R&D capabilities, scale on-demand manufacturing infrastructure, and launch pilot deployments of dedicated factories for wellness and pharma brands, Leumas said in a press release. Co-founded in 2016 by Subhajit Biswas and Nitesh K, Leumas offers on-demand manufacturing and factory-as-a-service models for wellness and pharma brands. Its solution is built on software-defined, modular robot factories that radically improve manufacturing and business outcomes - from development to commercial production. By combining automation, software intelligence, and R&D, it helps brands scale quickly, maintain quality, and reduce risk. According to Leumas, its core product is cyber-physical manufacturing technology: software-driven, modular production lines that integrate AI-led robotics, vision-based quality systems, and autonomous operations to ensure optimal production output and regulatory compliance. As per market research, the outsourced development and manufacturing market for pharma and wellness is expected to exceed $400 billion by 2030. Over the past year, Leumas claims to have co-developed its manufacturing solution with leading wellness brands and has helped scale more than 120 products across India, the US, and MENA. It has also signed agreements with prominent pharma and food research institutions to build dedicated factory capacities using its modular factory solution.

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