Open Secret, a healthy snaking startup, has raised Rs.50 crore in a funding round led by Desai Brothers Ltd., as the Mumbai-based brand looks to accelerate its expansion amid rising consumer demand for clean-label and better-for-you food products. Prior to the latest round, Open Secret had reportedly secured around Rs. 80–90 crore in institutional funding from investors including Matrix Partners India, Sixth Sense Ventures, and Ananta Capital.
The funding comes at a time when India’s healthy snacking market is witnessing robust growth, driven by increasing consumer awareness around nutrition, ingredient transparency, and wellness-oriented lifestyles. The category has attracted substantial investor interest over the past few years, with several brands competing to capture a larger share of the country’s evolving packaged foods market. The company was valued at approximately Rs.226 crore as of March 2025 and reported annual revenue of around Rs.54 crore for FY24.
The investment marks a strategic partnership between one of India’s emerging health-focused packaged food brands and a nearly 120-year-old business house with deep distribution capabilities across key markets. While the companies have not disclosed the valuation at which the transaction was completed, the capital is expected to support Open Secret’s next phase of growth, including product innovation, distribution expansion, brand building, and operational scale-up.
Founded in 2019 by Ahana Gautam and Udit Kejriwal, Open Secret has carved out a niche in the rapidly growing healthy snacks category through its portfolio of cookies, chocolates, bhujia, nut mixes, and other snack products positioned as free from maida, palm oil, and added preservatives. The brand has particularly resonated with families and parents seeking healthier alternatives for everyday snacking.
“This investment is a strong validation of our vision to make healthier snacking accessible to Indian consumers at scale,” the company spokesperson said at the announcement. The founders noted that the partnership would help strengthen the brand’s presence across channels while supporting its long-term growth ambitions.
For Desai Brothers, the investment aligns with its strategy of expanding its footprint in the fast-growing consumer foods segment. The diversified conglomerate has interests spanning food, tobacco, hospitality, renewable energy, and financial services, and also operates snack-focused businesses through its food portfolio. Industry observers believe the group’s extensive distribution reach across North and West India could provide a significant boost to Open Secret’s offline expansion plans.
Since its launch, Open Secret has expanded its distribution across e-commerce platforms, quick-commerce channels, modern trade stores, and traditional retail networks. Company commentary in recent months has indicated that the brand is targeting gross revenue of around ₹100 crore this year while laying the foundation for significantly larger scale in the years ahead.
The latest fundraise underscores growing investor confidence in India’s premium and health-focused food brands, a segment that continues to benefit from changing consumer preferences and higher spending on wellness products. With fresh capital, a strategic investor, and a rapidly expanding market opportunity, Open Secret is positioning itself to emerge as one of the leading players in the country’s next generation of packaged snack brands.
