The Whole Truth Raises $51 Million in Series D Round to Push Profitability and IPO Readiness

The Whole Truth is entering its next phase of growth with fresh capital, as the Mumbai-based packaged food company sharpens its focus on operating profitability and longer-term public market readiness. 

Funding Details and Investor Participation 

The company raised around $51 million through a Series D funding round that included both primary and secondary capital.  

The round was led by Sofina and Sauce.vc, with existing backers Peak XV Partners and Rainmatter Health participating again, alongside AYRA Ventures.  

Early investors include Z47, while angel backers feature names such as Sriharsha Majety and Jaydeep Burman. The latest fundraise comes as the company prepares for a potential initial public offering in the future. 

Use of Funds and Growth Momentum 

According to the company, the new capital will be directed towards expanding in-house manufacturing capacity, meeting working capital needs and investing in systems required to be “public market ready”.  

Turning profitable has been identified as the next major milestone. Since its Series C round in January 2025, The Whole Truth said it has grown threefold and now holds leading market shares across several core categories.  

Its most recent product launch, super-light protein powders, is aimed at under-served segments such as women, teenagers and the elderly. 

Founder and Investors on the Fundraise 

As per news reports, founder Shashank Mehta said the company has demonstrated that “a brand built on 100% truth can scale across categories,” adding that the next phase will focus on building the business “profitably, while holding the highest possible bar on quality and honesty.”  

Sauce.vc founder Manu Chandra said the firm is proud to support the company as it works to “fix broken consumer trust in food,” while Sofina principal Yana Kachurina said the brand is built on “honesty, quality, and a deep understanding of the consumer.” 

Read More: Parijat Industries Gets SEBI Approval For IPO, Moves Ahead with Issue Preparation! 

Conclusion 

With fresh Series D funding in place, The Whole Truth is entering a phase focused on profitability, selective expansion and deeper consumer engagement, as it builds scale while preparing for life as a public-market-ready company. 

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