Clean-label health food brand The Whole Truth has secured around $51 million in Series D funding led by Sofina and Sauce.vc. The round included a mix of primary and secondary capital, with participation from existing investors Peak XV Partners and Rainmatter Health, along with Ayra Ventures.
The startup also counts Z47 (formerly Matrix Partners) as its backer.
The company, established by former Unilever executive Shashank Mehta, specialises in “clean-label” packaged foods free from hidden sugars, artificial flavours, and preservatives. Its product range includes protein bars, protein powders, nut butters, and dark chocolates, with co-founder Rachna Aggarwal leading product development.
The funding comes in as the startup begins its IPO journey, with profitability being its next key milestone, it said.
The corpus raised will be used by the company to scale up its in-house manufacturing, bolster working capital, and develop the systems needed for public market readiness.
The Whole Truth last raised a Series C round in January 2025.
On the financial front, The Whole Truth’s revenue from operations is said to have jumped 232% to Rs 216 crore in FY25, up from Rs 65 crore in FY24. Over the same period, its losses widened 17% to Rs 28 crore, compared with Rs 24 crore in FY24, stated a report by Entrackr.
The food sector is witnessing a surge in funding, with investors actively backing domestic brands. US-based private equity firm General Atlantic has acquired a stake in Indian snack brand Balaji Wafers, reflecting strong growth driven by urbanisation, evolving consumer preferences, and rising demand for convenient, ready-to-eat foods.
Last year, Temasek invested around $1 billion in Haldiram’s, the largest deal in the sector to date. In other notable transactions, premium bakery chain Theobroma raised $281 million in a funding round led by homegrown PE firm ChrysCapital in August.
