Hyderabad-based millet snack company, Troo Good has raised Rs 55 crore in series A round funding from Oaks Asset Management.
Troo Good in its statement said, “It will use these funds to expand its business from Andhra Pradesh and Telangana into several other states across India, as well as achieve its mission of serving nutritious and affordable snacks to 1 crore children every day.”
Currently, the company serves nearly 10 lakh children every day and expects this number to go up significantly as they open new markets.
Commenting on the fundraise, Raju Bhupathi, founder of Troo Good said, “We are delighted to have OAKS on board and backing us for this next exciting phase of the Troo Good journey. We expect to have a significant ramp-up in the millet-based snacking segment over the next decade and Troo Good is ideally positioned to be at the forefront of this wave.”
Speaking on the investment, Vishal Ootam, CEO & Founder at OAKS Asset Management said, “Raju is an exceptional founder who has built Troo Good on the pillars of Taste, Affordability, and Nutrition. We are convinced that Troo Goodwill create an extraordinary pan-India nutritional food brand over the next few years. We are excited about partnering with Troo Good on this journey over the next few years.”