Millet-based snack startup True Good has recently raised a big funding. The company has raised $9 million i.e. about Rs 75 crore. The company has raised this funding led by Puro Wellness, Oaks Asset Management and V Ocean Investments.
The company said that the new capital will be used to develop infrastructure, increase distribution, promote product innovation and strengthen brand position. With this funding, the total funding of the company has increased to about Rs 130 crore. Earlier, the company had raised Rs 55 crore in a Series A round in November 2021.
“This funding is a pivotal moment in our growth journey as we enhance our infrastructure, expand our distribution network across India and focus on innovative millet-based products,” said Raju Bhupathi, Founder and CEO, True Good.
“The funds will help us expand our manufacturing capabilities, reach more consumers and innovate with new products that meet the changing tastes and needs of our customers,” he added.
The Hyderabad-based company, which was started in 2018, currently sells over 3 million units of its millet chikkis and other millet snacks daily. With the fresh capital, it aims to expand its market share in the healthy snacks segment.
