Mumbai-based clean-label food brand The Whole Truth is set to raise Rs. 304 crore in its Series D funding round, led by existing investor Sofina Ventures, with significant participation from Sauce.VC and Frangipani Capital. The company’s board has approved issuing 67,596 compulsorily convertible preference shares (CCPS) at Rs. 44,993 per share to facilitate the capital raise.
The new infusion is expected to lift The Whole Truth’s post-money valuation to approximately Rs. 3,604 crore (about $400 million), reflecting an estimated 69% increase from its previous funding round valuation.
In this round, Sofina Ventures is committing around Rs. 190.2 crore, Sauce.VC about ₹110 crore, and Frangipani Capital roughly Rs. 3.9 crore. Sofina’s tranche is yet to be received, while the others have already been funded.
The capital will be deployed to support The Whole Truth’s next growth phase, including meeting financial needs and expanding operations. The brand, which offers a portfolio of clean-label products such as protein bars, peanut butter, dark chocolates, energy bars, immunity balls, and muesli, has reported strong direct-to-consumer traction, with 80–85% of revenue generated through its own website.
