The Whole Truth, a clean-label health food manufacturer, has raised Rs 90.2 crore ($11 million) from its existing investors Sequoia Capital and Matrix Partners in a series B investment.
The board at The Whole Truth passed a special resolution to issue 1,02,879 Series B CCPS at an issue price of Rs 8,769 apiece in order to raise the aforementioned amount, according to the company’s regulatory filings with the Registrar of Companies (RoC).
Sequoia Capital reportedly provided the most to the session 64.84 crore—while Matrix Partners committed Rs 25.37 crore, according to Entrackr.
Sequoia Capital India, together with Matrix Partners India, sauce.VC, and other prominent angel investors, provided $6 million to the startup’s Series A fundraising round in July of last year.
Shashank Mehta, a professional marketer for Unilever, founded The Whole Truth in 2019 as a result of his constant struggle with obesity and his realisation that packaged foods loaded with hidden sugars and chemicals masquerading as healthy have been the main problem.
Protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli are among the products offered by the brand.
The platform claims that 80–85% of its sales are made through its website, with the remaining 15–25% coming from partnerships. It also gives memberships.
