The Whole Truth Raises $11M Fund in Series B Round

The Whole Truth, a clean-label health food company has raised Rs 90.2 crore ($11 million) from its current backers Sequoia Capital and Matrix Partners in a series B round.

The board at The Whole Truth passed a special resolution to issue 1,02,879 Series B CCPS at an issue price of Rs 8,769 apiece in order to raise the aforementioned amount, according to the company’s regulatory filings with the Registrar of Companies (RoC).

Sequoia Capital reportedly contributed the most to the round-Rs 64.84 crore-while Matrix Partners contributed Rs 25.37 crore, according to Entrackr.

Sequoia Capital India, along with Matrix Partners India, sauce.VC, and other renowned angel investors, contributed $6 million to the startup’s Series A fundraising round in July of last year.

Shashank Mehta, a former marketer for Unilever, founded The Whole Truth in 2019 as a result of his lifelong battle with obesity and his realization that packaged foods loaded with hidden sugars and chemicals masquerading as healthy were the main problem.

Protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli are among the products offered by the brand.

The platform claims that 80–85% of its sales are made through its website, with the remaining 15–25% coming from partnerships. It also sells memberships.