[Funding alert] The Whole Truth raises $6M Series A round led by Sequoia Capital
(TWT), a 100 percent clean-label food brand, has raised a $6 million Series A funding round led by Sequoia Capital India. The round saw participation from existing investors Matrix Partners India and Sauce.Vc, along with a clutch of marquee angels like Kalyan Krishnamurthy (Flipkart), Sujeet Kumar (Udaan), and Ashneer Grover and Shashvat Nakrani (BharatPe).
Earlier angels in the company include Nithin Kamath (Zerodha), Sriharsha Majety (Swiggy), and Jaydeep Barman (Rebel Foods). The company stated that this fresh capital will be used to hire high-calibre talent, expand TWT’s manufacturing capabilities and enter new food categories, where consumers currently do not get high-quality, clean food options.
"At TWT, we’re hell-bent on bringing truth back to food. We do this through our 100 percent clean-label products, and through clutter breaking content that helps consumers spot the misleading information they’re being provided,” said Shashank Mehta, Founder, The Whole Truth.
Founded by Shashank Mehta, an ex-Unilever marketeer, The Whole Truth is the result of his life-long struggle with obesity, and his realisation that the main culprit was unhealthy packaged food, loaded with hidden sugars and chemicals, masquerading as healthy.
“The immense consumer love we’ve garnered in just 18 months of existence, has shown us how deeply consumers resonate with the problem we’re solving. And with partners like Sequoia Capital India, plus several amazing founder-angels joining our mission, we’re all set to turbocharge this crusade — and hopefully set packaged foods right in the process,” he added.
With a mission of creating the most transparent, clean and ‘truthful’ food brand in India, TWT lists each and every ingredient that goes into their food, upfront. So consumers never have to turn the pack or feel cheated by their food.
"Sequoia Capital India is thrilled to partner with Shashank and rest of the team at The Whole Truth. They have a simple yet very powerful mission of making 100 percent clean-label food. We have been very impressed with the customer love for their early set of products and excited about the journey ahead," Abhishek Mohan, Principal, Sequoia India.
Launched in December 2019, The Whole Truth stated it has grown 12x, and has a loyal community base of over 200,000 brand followers. It claims to have disrupted the bars and muesli categories, with 100 percent clean-label, tasty options that were earlier not available to Indian consumers.
“It’s been a privilege to partner early with Shashank, and to watch his vision come to life right from the pre-launch, concept stage to today. The consumer love for TWT products and brands is incomparable and among the highest in the country, across categories. More broadly, Shashank’s mission to upend up the traditional CPG world is truly exciting. We look forward to the next phase of growth and welcome Sequoia Capital India to the partnership!” commented Sanjot Malhi, Director, Matrix India.
The TWT team also make quirky-yet-educational content that helps consumers understand and decode their food choices.
"As a brands investor, from the day it was just an idea, it has been an easy marriage of minds with Shashank. The brand gets so much love because you don't have to sell the truth. It’s what today's consumers want and expect from brands, especially when it comes to food. The Whole Truth has got that right and we are excited to continue backing this ideology,” Manu Chandra, Founder, Sauce.vc.