SUMMARY
- Troo Good has secured $9 million in a fresh funding round led by Puro Wellness.
- Existing investors Oaks Asset Management and V Ocean Investments also participated in the round.
- The funds will be utilised in the company’s plans for expanding its facilities among others.
Millet snacks brand Troo Good has secured $9 million in a fresh funding round led by Puro Wellness. This round also included participation from its existing investors, Oaks Asset Management and V Ocean Investments.
So far, the company has raised approximately Rs 132 crore (around $15.7 million) in funding, with Rs 55 crore, coming in Series round led by Oaks Management in November 2021. Following this round, Troo Good is expected to be valued at Rs 322 crore (approximately $38 million).
The funds will be utilised in the company’s plans for expanding its facilities, improving its distribution network, and innovating its product line.
Established in 2018 by Raju Bhupati, Troo Good operates from Hyderabad and offers a variety of millet-based snacks, such as chikkis, protein bars, and nutri bars. The company boasts sales of over 2 million millet chikkis and other millet snacks daily.
Although the company has not disclosed its financial results for FY24, it has reported a 7% increase in revenue, reaching Rs 52.7 crore in FY23. This growth was made possible through effective cost control measures, which also helped the company achieve profitability during this period.
Notably, Troo Good’s competitor Slurrp Farm secured $7.2 million in January 2024.
