Troo Good raises $9 Mn led by Puro Wellness

Troo Good, a millet-based snack brand, has raised $9 million in a new round led by Puro Wellness. Existing investors Oaks Asset Management and V Ocean Investments have also participated.  

Entrackr had exclusively reported about the funding earlier this month. 

The company has raised around Rs 132 crore (around $15.7 million) to date including its Rs 55 crore in a Series A led Oaks Management in November 2021. According to the startup data intelligence platform TheKredible, Troo Good will be valued at Rs 322 crore or $38 million post-allotment.

The proceeds will be used to support the company’s efforts in expanding infrastructure, enhancing distribution capabilities, and driving product innovation.

Founded in 2018 by Raju Bhupati, Troo Good is a Hyderabad-based company that sells millet-based snacks, including chikkis, protein bars, and nutri bars. The company claims to sell over 2 million millet chikkis and other millet snacks every day.

While the firm has yet to report FY24 numbers, Troo Good recorded a modest 7% growth in revenue, rising to Rs 52.7 crore in the fiscal year ending March 2023. However, effective cost management enabled Troo Good to achieve profitability during the same period. 

It competes with Slurrp Farm, which raised $7.2 million in January this year, as reported exclusively by Entrackr.