Healthy Snack Startup Troovy Raises ₹100 Crore to Scale Retail Presence

Indian healthy snacking brand Troovy has secured ₹100 crore ($10.5 million) in a Series B funding round. The investment, led by existing investor Fireside Ventures with participation from Sharrp Ventures, aims to bolster the company’s manufacturing capacity, research and development, and offline retail expansion.

2021

Husband-and-wife team Mansi Baranwal and Aditya Mukherjee founded Troovy. The company initially entered the food market with clean-label ketchup before pivoting into the broader healthy snacking sector. The brand’s current product lineup includes chips, puffs, sauces, spreads, millet-based pasta, and milk mixes, with chips and puffs accounting for approximately 60% to 70% of total sales.

January 2024

The company successfully closed a $5 million Series A funding round, also led by Fireside Ventures. Following this investment, the brand reported a fivefold growth over the subsequent eight months, prompting the latest capital injection.

Present Day

Troovy is currently focusing on expanding its offline distribution network. While quick commerce and marketplaces generate roughly half of the company’s revenue, offline retail currently contributes about 6% of sales. The startup has launched in Delhi NCR and intends to expand into Rajasthan, Uttar Pradesh, Punjab, and Haryana. Meanwhile, the company is preparing to launch new product categories, including namkeen, biscuits, and cookies by January 2027.

Regulatory Context

The brand recently faced scrutiny from the Food Safety and Standards Authority of India (FSSAI) regarding the use of the term “healthy” in the branding of its vegetable and lentil-based chips. Co-founder Mansi Baranwal stated that the company views stricter food labelling enforcement as a positive development for brands committed to ingredient transparency.

Current Status

Troovy is scaling its operations and distribution channels while refining its product portfolio. The brand continues to prioritize R&D to meet consumer demand for clean-label snacks as it enters new regional markets.