TWF Flours, a Noida-based foodtech startup, has secured its first institutional funding round with an investment of around INR 12 crore ($1.4 million) from Rainmatter, a Zerodha-backed venture fund.
The company has previously secured seed funding from prominent figures in the startup ecosystem, such as Rajaraman Santhanam, co-founder of Chargebee; Shan Krishnaswamy, co-founder of Freshworks; Sharath Longanathan, co-founder of Ninjakart, among others.
According to cofounder Pranjal Kumar, this pre-Series A funding round brings TWF Flours’ total raised funds to nearly $2 million to date.
“We will invest the funds raised in this round primarily for research and development on how to improve the nutritional aspects of flour,” Kumar said.
TWF Flours employs innovative milling technology to produce higher quality flour that is both healthier and richer in nutrients. The company distributes its products directly to consumers via its website and various e-commerce platforms. Additionally, it caters to the needs of hotels and restaurants requiring specialized bread for sandwiches, pizzas, and similar dishes.
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“We have mostly acquired our customers through word of mouth. Anyone setting up a good quality pizzeria will hear about us for good quality bread,” Kumar said. TWF Flours competes with imported bread in this category and is a much cheaper option with similar taste and quality, he added.
Founded in 2019 by Pranjal Kumar and his longtime professional associate Arjun Rungta, both passionate bakers, TWF Flours originated from their endeavor to produce superior quality bread in India back in 2016. This aspiration led them to conceive the idea of establishing a specialized flour company.
For Rainmatter, TWF Flours represents another investment within the health and wellness category, an area that deeply resonates with the founders of Zerodha. Last year, Rainmatter invested in Pune-based fitness startup Fittr and has also supported ventures such as The Whole Truth and Trunati. Established in 2016, Rainmatter currently operates as a INR 1,000-crore fund, focusing its investments across fintech, healthtech, and storytelling sectors.
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