BackTroo Good raises ₹55 crore in Series A Funding from OAKS Asset Management
Troo Good originally began producing millet-based chapatis and parathas. From selling 800 parathas/chapatis a day across schools, IT companies and sky kitchens, Troo Good soon went on to become the largest such company in Hyderabad
PremiumMUMBAI: Troo Good, a millet snacks maker, on Wednesday said it has raised ₹55 crore in its Series A funding round led by investment firm OAKS Asset Management.
The Hyderabad-headquartered company will use these funds to expand its business from Andhra Pradesh and Telangana to several other states across India, as well as achieve their 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.
Troo Good originally began producing millet-based chapatis and parathas. From selling 800 parathas/chapatis a day across schools, IT companies and sky kitchens, Troo Good soon went on to become the largest such company in Hyderabad.
By the end of 2018, Troo Good had introduced India’s first millet chikki, based on a unique formulation using different types of millets.
Raju Bhupathi, founder of Troo Good, said, “2023 is the International year of Millet and the Indian government too has identified millets as a long-term solution to the Indian food and water resource management issues, besides having significant health and nutritional benefits. Troo Good was selected as the Best Start-up Connected with Public Funds at the Poshak Anaj awards conducted by IIMR, Niti Aayog and the Department of Agriculture in September 2021. We have come a long way in creating a robust pipeline of products and corresponding expertise and are now looking to scale rapidly. 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."
Vishal Ootam, CEO and Founder at OAKS Asset Management, said, “We are convinced that Troo Good will 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."
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