Mumbai-based health food brand The Whole Truth raises $15 million in a Series C round

The Whole Truth (TWT), a Mumbai-based health food brand that emphasizes clean labels, has raised $15 million in a Series C funding round led by European investment firm Sofina.

Existing investors, including Z47, Peak XV Partners (formerly Sequoia India), and Sauce.VC also participated alongside angel backers such as Zerodha founder Nithin Kamath, Swiggy co-founder Sriharsha Majety, and Rebel Foods co-founder Jaydeep Burman.

The fresh infusion takes TWT’s total funding to $37.6 million across six early-stage rounds, according to data from Tracxn.

“Shashank and the team at The Whole Truth are not just building a brand—they’re leading a movement to restore trust in food, and making food real again,” said Vikram Vaidyanathan, managing director at Z47, one of TWT’s earliest backers.

TWT's offerings

TWT’s product lineup includes protein bars, peanut butter, dark chocolates, muesli, and energy balls—items the company says are free of artificial additives and loaded with naturally occurring nutrients.

Founded in 2019 by ex-Unilever marketer Shashank Mehta, TWT also produces educational content aimed at helping consumers understand and decode ingredient lists.

It competes with brands such as Yoga Bar, Slurrp Farm, True Elements, Opensecret, Monsoon Harvest, Wellbeing Nutrition, OZiva, and Plix, all of which target India’s expanding health and wellness segment.

Purpose of fundraising

The startup plans to use the raised capital for in-house manufacturing expansion, hiring, and diversification into new categories.

It provides subscription options and claims that 80-85% of its sales come from its website,

Financial performance

TWT posted an 81% rise in revenue for the fiscal year ending March 2024, increasing to Rs 65.3 crore from Rs 35.96 crore the prior year. Notably, the startup also managed to reduce its losses by 33%.

The brand has taken steps to broaden its consumer base beyond just fitness enthusiasts, courting demographics such as women, teenagers, and older adults who are looking for guilt-free snacks. 

“At Sofina, we are dedicated to investing in companies that are mission-driven and share our values of quality and long-term impact. The Whole Truth's mission to redefine clean-label nutrition and build consumer trust strongly aligns with our vision,” said Yana Kachurina, Principal, Sofina.