Troo Good, a millet-based snack brand, has raised $9 million in a new funding round led by Puro Wellness. The round also saw participation from existing investors OAKS Asset Management and V Ocean Investments.
This capital raised will be used for infrastructure expansion, enhancing distribution capabilities, and driving product innovation.
This latest round brings Troo Good’s total funding to approximately ₹130 crore. Troo Good last raised ₹55 crore in a Series A round in November 2021.
Raju Bhupati, Founder and CEO of Troo Good, said, “This funding marks a pivotal moment in our growth journey as we scale our infrastructure, expand our distribution network across India, and focus on innovative millet-based products. We are committed to making healthy, affordable snacks accessible to all and are excited about the opportunities ahead. The funds will help us enhance our manufacturing capabilities, reach more consumers, and innovate with new products that cater to our customer’s evolving tastes and needs. I am extremely excited about the partnership with Puro Wellness in particular since they bring immense complementary skills and strategic distribution depth to Troo Good.”
Ruchir Modi, Founder of Puro Wellness, stated, “We are deeply aligned with Troo Good’s vision of delivering healthy, affordable snacks to India’s mass market. This partnership is a natural fit for Puro Wellness as we expand our mission to build a comprehensive wellness foods platform. Beyond capital, we are bringing our extensive distribution network and strategic expertise to the table, ensuring that Troo Good becomes a household name across the nation. Together, we aim to elevate the wellness food industry and make healthy eating accessible to millions more.”
Vivek Anand PS, Partner at Oaks Asset Management, said, “Troo Good has consistently delivered value year after year, proving the strength of its business model and the exceptional leadership of founder Raju Bhupati. Our confidence in the brand has only grown, and we are very happy to be part of this next phase of their journey.”
Since its founding in 2018, Troo Good has become known for its range of millet-based snacks, including chikkis, protein bars, and Nutri bars. The company claims to sell over 3 million units daily of its popular millet chikkis and other millet snacks.
The company claimed to be consistently profitable, showing revenue growth year-on-year while competing in the highly competitive FMCG market.
