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D2C brand The Whole Truth has raised $51 Mn (around INR 416 Cr) in its Series D round, which was a mix of primary and secondary transactions, co-led by Sauce.vc and Sofina.
The round also saw participation from existing backers, including Peak XV Partners, Rainmatter Health, AYRA Ventures, and Z47.
The startup said the funding round marks the start of its IPO journey. It plans to deploy the fresh capital to scale up in-house manufacturing capacity, fund working capital requirements, and “set up systems and capabilities needed to be public market ready”.
“Expect many new, category-defining launches. A few, strategic, long-term partnerships with like minded customers and vendors. And a massive push to build direct relationships with our core consumers (who love us and are ultra-loyal to TWT)…” The Whole Truth cofounder and CEO Shashank Mehta said.
Without giving a timeline, the D2C brand said its next target is to turn profitable ahead of its IPO.
Founded by Mehta in 2019, The Whole Truth began its journey as ‘And Nothing Else’. Currently, it sells healthy, protein-focussed snacks such as protein bars, peanut butter, muesli, among others. It claims to have eliminated hidden sugars, artificial flavours and harmful preservatives from its products on the back of propriety manufacturing and R&D.
The D2C brand sells its products via its website, ecommerce platforms, quick commerce players, and retail outlets.
The funding round comes almost a year after The Whole Truth raised $15 Mn in its Series C round, which was also led by Sofina, and saw participation from early backers including Sauce.vc, Peak XV, and Z47.
The Whole Truth competes against the likes of Phab, SuperYou, Yogabar, among others.
(The story will be updated soon)
The post The Whole Truth Raises $51 Mn To Get Public Market Ready appeared first on Inc42 Media.
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