The Whole Truth, the food and nutrition company that Peak XV backs, had a killer year in FY25. They saw a big jump in sales and got better at running things as they keep getting bigger in India’s D2C scene. Even though they spent more as they grew, their numbers show they’re doing great, thanks to money, loyal customers, and the popularity of their products.
In the year ending March 2025, The Whole Truth’s sales shot up by 232% to ₹216 crore, way up from ₹65 crore the year before. If you count other stuff, they made ₹220 crore, compared to ₹71 crore last year. That makes them one of the fastest-growing food and beverage brands selling directly to consumers in India. Investors are really confident in them, since they’re all about clean ingredients and being open about what’s in their food.
They sell a lot of stuff, like protein bars, peanut butter, dark chocolate, energy bars, and muesli. They mostly sell online, straight to people, focusing on telling people what’s in their food. As more people care about eating healthy, the company has seen people keep buying their stuff, which is a sign that they can keep growing in the D2C market.
But, growing bigger means spending more. Their costs went up because they invested in making stuff, marketing, and getting their products where they need to be. The biggest cost was the stuff they use to make their products, which was over half of what they spent. That cost went up a lot because they were making more and selling more different things. They also spent more on marketing to get new customers and build their brand online.
Because of that, they lost a bit more money than last year. But, they’re getting better at making money. They’re spending less to earn each rupee, which means they’re getting better at running things as they get bigger.
Their bank account looks great, too. They have way more money than last year. With all that cash, they can keep growing, launch new products, and sell their products in more places.
The Whole Truth has gotten $38 million from investors so far, including Peak XV Partners. Now, they want to get another $34 million to grow even faster, make their supply chain even better, and become a leader in the wellness and nutrition market in India.
As India’s D2C world gets more mature, The Whole Truth’s year shows that brands that focus on being honest, building trust, and giving customers value are doing really well. They still want to make profit, but their fast growth, better efficiency, and strong money position show that they’re on the right track to get big in India’s D2C space.
