Millet-based snack brand Troo Good has reportedly raised Rs 72 crore in a new funds round led by Oaks Asset Management, along with Puro Wellness and V Ocean Investments.
The company’s board of directors approved the issuance of 10,176 shares to secure the funds, as revealed in regulatory documents accessed by Entrackr.
Who invested how much?
The report said Oaks Asset Management, a returning investor, led the round with a contribution of Rs 37 crore. Puro Wellness invested Rs 25 million, while V Ocean Investments contributed Rs 10 million.
With these investments, Oaks Asset Management now owns 28.89% of Troo Good’s capital. Puro Wellness and V Ocean Investments have stakes of 7.75% and 14.28%, respectively.
The report says that the Hyderabad-based startup is expected to use the raised capital to further expand its business.
What does Troo Good do?
Founded in 2018 by Raju Bhupati, Troo Good focuses on millet-based snacks and offers products like chikkis, protein bars and nutrition bars. The startup has rapidly grown its customer base and sells over 2 million millet snacks every day.
It aims to capitalize on the growing demand for healthy snack options in India, where millet-based products have become increasingly popular.
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