Millet-based snack brand Troo Good raises Rs 72 crore in funding: Report

Millet-based snack brand Troo Good has reportedly raised Rs 72 crore in a new funding round led by Oaks Asset Management, along with Puro Wellness and V Ocean Investments. 

The company’s board approved the issuance of 10,176 equity shares to secure the funds, as revealed in regulatory filings accessed by Entrackr. 

Who invested how much?

The report said that Oaks Asset Management, a returning investor, led the round with a contribution of Rs 37 crore. Puro Wellness invested Rs 25 crore, while V Ocean Investments contributed Rs 10 crore.

With these investments, Oaks Asset Management now holds 28.89% of Troo Good’s capital. Puro Wellness and V Ocean Investments command stakes of 7.75% and 14.28%, respectively.

The report said that the Hyderabad-based startup is expected to use the raised capital to scale its business further. 

What does Troo Good do?

Founded in 2018 by Raju Bhupati, Troo Good focuses on millet-based snacks, offering products such as chikkis, protein bars, and nutri bars. The startup has rapidly grown its customer base, selling over 2 million millet snacks each day.

It aims to capitalize on the increasing demand for healthy snack options in India, where millet-based products have become increasingly popular.