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The Whole Truth eyes Rs 304 cr series D, valuation jumps past Rs 3,600 cr
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Saturday, 24 January, 2026, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Mumbai-based clean-label food brand The Whole Truth is preparing to raise approximately ?304 crore ($34 million) through a Series D funding round, a move that is expected to significantly elevate the company’s valuation to around Rs 3,604 crore (about $400 million) following the infusion. This anticipated post-money valuation marks a roughly 69% increase compared with the startup’s prior funding round, signaling strong investor confidence in its growth trajectory.
The Series D round is being led by existing investor Sofina Ventures, which is slated to commit about Rs 190.2 crore. Other key participants include Sauce.VC investing around Rs 110 crore and Frangipani Capital with a contribution of roughly Rs 3.9 crore. While the funds from Sauce.VC and Frangipani Capital have already been received, Sofina’s tranche is expected to be completed soon as part of the board-approved issuance of 67,596 compulsorily convertible preference shares (CCPS).
The capital raised in this round will be deployed to support The Whole Truth’s next expansion phase, including meeting working capital needs and driving operational growth across its portfolio. The brand has carved out a niche in the “clean-label” segment with products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli. The company has also demonstrated strong direct-to-consumer traction, with approximately 80–85% of its revenue generated through its own digital platforms.
The strong valuation uplift and participation from prominent backers underscore continued investor interest in health-focused premium food brands, particularly those with solid D2C engagement, even as India’s packaged food landscape evolves toward wellness-oriented consumption.
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