Mumbai: The Complete Fact (TWT), a clean-label vitamin model that sells protein powders and bars, has raised about $51 million in a mixture of main and secondary capital in its Sequence D funding spherical, led by Sofina and Sauce.vc, the corporate mentioned in an announcement on Wednesday.
The spherical additionally noticed participation from current traders Peak XV CompanionsRainmatter Well being and AYRA Ventures. A few of TWT’s early backers embody Z47 (previously Matrix Companions India) and angel traders corresponding to Swiggy founder Sriharsha Majety and Insurgent Meals founder Jaydeep Burman.
The corporate mentioned it plans to make use of the proceeds to show worthwhile, put money into scaling up its in-house manufacturing capability, fund working capital, and construct programs and capabilities wanted to organize for a future public market itemizing.
The funding underscores rising investor urge for food for clean-label vitamin manufacturers as India’s protein deficit turns into a big, scalable client alternative.
Protein second
There’s a rising deal with protein consumption in India, the place consumption stays far beneath world ranges. In 2021, India’s day by day per capita protein provide stood at 70.5 grams, in contrast with 124.6 grams in China and 124.3 grams within the US, in accordance with information from the AND’s Meals and Agriculture Group.
A 2024 survey by IMRB discovered that over 90% of Indians are unaware of their day by day protein wants, whereas 73% of city diets fall wanting advisable consumption.
India’s protein complement market was valued at about $1.4 billion in 2024 and is projected to develop to $1.8 billion by 2029, in accordance with Mordor Intelligence. As protein positive aspects prominence in Indian diets, a brand new crop of startups is rising to fulfill the demand. TWT competes with manufacturers corresponding to Yoga BarWellbeing Diet, OZiva, Tremendous You and Max Protein.
Product growth
Based in 2019 by Shashank Mehta, TWT manufactures protein powders, bars, peanut butter and darkish chocolate, focusing on health-conscious shoppers seeking to bridge dietary gaps. The corporate just lately launched 100% Clear, Tremendous-Mild Protein Powders.
Final yr, it raised $15 million in its Sequence C spherical, led by Sofina with participation from Z47, Peak XV and Sauce.vc. Since then, the corporate mentioned it has grown 3 times and now claims dominant market share throughout key classes.
In FY25, The Complete Fact’s income from operations surged to ₹216 crore from ₹65 crore, a yr earlier. Its losses marginally widened to ₹28 crore from ₹24 crore in FY24, in accordance with an Entrackr report.
With proprietary R&D and in-house manufacturing, TWT mentioned it has eradicated hidden sugars, synthetic flavours and dangerous preservatives from its merchandise. The model sells throughout on-line marketplaces, fast commerce platforms and offline retail shops.