The Whole Truth, a brand known for its healthy, clean-label foods, has secured $51 million (around ₹416 crore) in Series D funding. This is a big step as they work toward making a profit and potentially going public. Sauce.vc and Sofina together led the funding round, which included both new and existing investments. Peak XV Partners, Rainmatter Health, AYRA Ventures, and Z47 also participated.
Sources say this funding values The Whole Truth between $350 million and $400 million, a good increase from the $230 million valuation in the previous round. This positions the brand as one of the most interesting direct-to-consumer (D2C) companies in India, showing that investors are confident in well-managed, purpose-driven D2C brands ready for long-term growth.
The company stated that this Series D round is the real beginning of their plan to go public, with making a profit as the next goal. They will use the money to grow their manufacturing, improve their cash flow, and set up the systems and management required for a public company.
Shashank Mehta, a former Unilever marketer, started The Whole Truth in 2019. Originally called ‘And Nothing Else,’ the brand was founded on a simple promise: no secret sugars, no fake flavors, and no bad preservatives. Now, the D2C brand provides a growing selection of protein-focused snacks like protein bars, peanut butter, muesli, and other healthy foods, all created with their own research and manufacturing.
Mehta said that this funding will allow to introduce category-defining products, form partnerships, and focus on building stronger relationships with their most loyal customers. This focus on customer data and trust is a key strength of D2C businesses, which is helping them more profitable.
The Whole Truth sells its products on its website, online stores, and some retail locations, giving it a strong presence everywhere. The brand is doing very well. According to financial information, the company’s operating revenue jumped by 232.5% to ₹216 crore in FY25, up from ₹65 crore in FY24. Losses went up slightly to ₹28.2 crore, which shows they are growing quickly and investing in their business.
The Whole Truth is competing with other brands like Phab, SuperYou, and Yogabar in a busy market. Currently, health-focused D2C food and drink brands are attracting a lot of investor attention. Due to funding rounds, takeovers, and expansion, wellness and nutrition D2C funding rounds continue to accelerate.
As Indian consumers look for clear information, protein-rich diets, and clean labels, The Whole Truth’s brand, manufacturing, and IPO focus puts it in a good position to become a leader among D2C startups. This Series D funding shows that India’s D2C market is becoming more mature and ready for the public market.
