Clean-label health food brand The Whole Truth has raised $51 million in a Series D funding round led by Sofina and Sauce.vc The round includes a mix of primary and secondary capital and saw participation from existing backers Peak XV Partners and Rainmatter Health, along with Ayra Ventures.
The company said the fresh capital will be used to expand in-house manufacturing, strengthen working capital, and build internal systems required for public market readiness.
According to an ET report, the fundraise marks the beginning of The Whole Truth’s IPO journey, with profitability identified as the next key milestone.
Founded by former Unilever executive Shashank Mehta, The Whole Truth focuses on clean label packaged foods, with a portfolio that includes protein bars, protein powders, nut butters, and dark chocolates. Co-founder Rachna Aggarwal leads product development at the company.
The startup had earlier raised $15 million in a Series C round led by Sofina in February last year, with participation from Z47, Peak XV Partners and Sauce.vc. Since its Series C round in January 2025, the company claims to have grown threefold.
On the financial front, revenue from operations jumped 232% to ₹216 crore in FY25 from ₹65 crore in FY24. During the same period, losses widened 17% to ₹28 crore, compared with ₹24 crore a year earlier.
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