Clean mark wellbeing food brand The Whole Truth has raised another financing round drove by Sequoia Capital and partook by existing benefactors alongside eight private supporters. This is the second financing round for the Bengaluru-based firm.
The Whole Truth has designated 116,069 Series A Preference offers and 10 value shares at an issue cost of Rs 3667.33 per offer to raise Rs 42.6 crore or near $6 million, administrative filings show.
Sequoia Capital has driven the round with Rs 21 crore though existing financial backers Matrix Partners and Sauce.vc have placed in Rs 13.5 and Rs 5 crore individually. Udaan’s prime supporter Sujeet Kumar has contributed Rs 1 crore while Yatin Shah and Kyush Investments have placed in Rs 50 lakh each.
Reckitt’ senior VP and BharatPe’s fellow benefactor and OTP Venture have contributed Rs 25 lakh each. The leftover sum has come from Ankush Gera, Dhvanil Rawal and Sahil Narang. Following the gather pledges, the organization’s originator Shashank Mehta’s stake has been weakened to 42.91%. The other two fellow benefactors Aditi Gupta and Samir Singh all things considered own 4.42%.
Network is the biggest partner among financial backers with 20.17% while Sequoia has gotten 10.37% by driving this round. Allude underneath pie-outline for the total shareholding construction of The Whole Truth Foods.
As per Fintrackr’s gauge, The Whole Truth has been esteemed at Rs 205 crore or $27.5 million (post-cash) in the Series A round.
In contrast to customary brands in the space, The Whole Truth positions itself as a sound and clean bite brand with an arrangement of protein bars, resistance balls and muesli. The organization offers memberships and cases to have 80-85% deals through its site and staying from associations with rec centers and gyms.
Previously known as And Nothing Else, the organization has recorded income from activities of Rs 73.21 lakh during the monetary finished in March 2020. The Mumbai-based organization spent Rs 1.71 crore during a similar period and incurred a deficiency of Rs 93.1 lakh.
