Direct to consumer food brand The Whole Truth has raised 51 million dollars, roughly INR 416 crore, in a Series D funding round, marking a major milestone in its journey toward the public markets. The round was a mix of primary and secondary transactions and was co led by Sauce.vc and Sofina, with continued backing from existing investors such as Peak XV Partners, Rainmatter Health, AYRA Ventures and Z47.
Founded by Shashank Mehta and his team, The Whole Truth has built a strong reputation in India’s crowded packaged food space by taking a clear stand on clean labels and ingredient transparency. From protein bars to peanut butter and muesli, the brand has focused on telling consumers exactly what goes into its products and what does not. This approach has helped it build trust and a loyal customer base in a category often criticised for hidden sugars and additives.
The company said the latest funding marks the formal beginning of its IPO journey. Fresh capital will be used to expand in house manufacturing, strengthen working capital and invest in systems and processes needed to meet public market standards. A portion of the funds will also go toward launching new products and entering adjacent food categories over the next few years.
The Whole Truth is also looking to deepen its direct relationship with consumers while forming a small number of long term partnerships with vendors and collaborators who share its philosophy. The brand plans to stay selective rather than chase rapid but unfocused expansion.
With this round, The Whole Truth joins a growing list of Indian D2C brands preparing for life beyond private funding. Its focus on profitability, manufacturing control and brand trust suggests a more measured path to scale, one that could appeal to public market investors looking for sustainable consumer businesses rather than quick growth stories.
