Food Brand The Whole Truth bags nearly $15 million in Series B funding led by Sequoia Capital

• ByStartupStory     |    January 9, 2023

On Monday, The Whole Truth(TWT), a 100% clean-label food brand, announced that it has raised nearly $15 million in a Series B funding round led by Sequoia Capital India.

The Mumbai-based startup plans to use the new funds to expand its in-house manufacturing capacity, hire new employees, and expand its retail distribution.

Existing investors included Matrix Partners India and Sauce.VC, as well as angel investors Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy), and Jaydeep Burman (Rebel Foods).

“From Day 1, we’ve maintained we’re not a food brand. We’re a truth brand. We intend to bring this philosophy to all food categories where consumers are sold half-truths. From protein bars to chocolates and beyond. With this new fundraise we’ll continue to innovate and enter more categories,” said Shashank Mehta, Founder and CEO of The Whole Truth Foods.

“We’ll continue to grow distribution and bring our existing products to more consumers. We’ll continue to make clutter-breaking, myth-busting content that educates consumers because what we read and believe is what we eat and repeat,” he added.

TWT claims to have grown 7X since its Series A round in July 2021, launched 100% clean-Label, bean-to-bar chocolates, and expanded physical distribution to over ten cities.

The brand was able to eliminate all hidden sugars, artificial flavors, and harmful preservatives from its food through proprietary R&D and in-house manufacturing.

“Sequoia Capital India is delighted to double down on the partnership with The Whole Truth. We have been working with Shashank, Rachna, and the team for over a year and a half now, and we are very impressed with their product innovation engine, marketing acumen, and overall quality of execution. We are excited about the journey ahead,” said Abhishek Mohan, Principal at Sequoia India.

The Whole Truth was founded by Shashank Mehta, an ex-Unilever marketer, as a result of his life-long struggle with obesity and his realization that the main culprit was unhealthy packaged food, which was loaded with hidden sugars and chemicals while masquerading as healthy.

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