Millet-based snacking company Troo Good has raised Rs 55 crore in a funding round led by OAKS Asset Management. The Hyderabad-headquartered company will use the funds raised in the Series A funding round to expand their business from Andhra Pradesh and Telangana into several other states across India, as well as achieve their mission of serving nutritious and affordable snacks to 1 crore children every day, a company statement said.
“We have come a long way in creating a robust pipeline of products and corresponding expertise and are now looking to scale rapidly. We are delighted to have OAKS on board and backing us for this next exciting phase of the Troo Good journey. “We expect to have a significant ramp-up in the millet based snacking segment over the next decade and Troo Good is ideally positioned to be at the forefront of this wave,” said Raju Bhupathi, founder of Troo Good.
Currently, the company serves nearly 10 lakh children every day and expects this number to go up significantly as they open new markets. “We are convinced that Troo Good will create an extraordinary pan-India nutritional food brand over the next few years. We are excited about partnering with Troo Good on this journey over the next few years,” Vishal Ootam, CEO and Founder at OAKS Asset Management said.