The Whole Truth raises $11M in a Series B round led by existing investors

Clean-label health food brand The Whole Truth has raised Rs 90.2 crore or $11 million in a series B round from its existing investors Sequoia Capital and Matrix Partners.

According to the company’s regulatory filings with the Registrar of Companies (RoC), The board at The Whole Truth has passed a special resolution to issue 1,02,879 Series B CCPS at an issue price of Rs 8,769 each to raise the aforementioned sum.

According to Entrackr, Sequoia Capital led the round with Rs 64.84 crore, while Matrix Partners pumped in Rs 25.37 crore during the round. 

In July last year, the startup raised $6 million as part of its Series A funding round from Sequoia Capital India and other investors, including Matrix Partners India, sauce.VC, and other marquee angel investors.

Founded in 2019 by Shashank Mehta, an ex-Unilever marketeer, The Whole Truth is the result of his life-long struggle with obesity, and his realisation that the main culprit was unhealthy packaged food loaded with hidden sugars and chemicals masquerading as healthy.

The brand has a portfolio consisting of protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. 

The platform offers subscriptions and claims 80-85% of sales come through its website, and the remaining scale comes from partnerships.

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