Troo Good, a Hyderabad-based millet snack brand, has raised Rs 72 crore (around $8.6 million) in a fresh funding round led by Oaks Asset Management, with additional participation from Puro Wellness and V Ocean Investments.
According to regulatory filings sourced by Entrackr, the company has passed a resolution to issue 10,176 equity shares to facilitate the funding. Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. The funds will be allocated toward meeting Troo Good’s working capital requirements.
With this round, Troo Good has now raised a total of Rs 132 crore, including Rs 55 crore in a Series A round led by Oaks Asset Management in November 2021. Post-investment, Oaks Asset Management will hold a 28.89% stake in the company, while Puro Wellness and V Ocean Investments will own 7.75% and 14.28%, respectively.
Founded in 2018 by Raju Bhupati, Troo Good specializes in millet-based snacks such as chikkis, protein bars, and Nutri bars. The company claims to sell over 2 million millet snacks daily, reflecting growing consumer demand for healthy and nutritious snack options.
Troo Good achieved profitability in FY23, with revenue increasing by 7% to Rs 52.7 crore, thanks to effective cost management. The company has yet to disclose its financial performance for FY24.
