Healthy snack brand Troovy raises Rs 100 Cr in Series B round led by Fireside Ventures

Troovy, a food and snacks brand, has raised Rs 100 crore in a Series B round of funding led by Fireside Ventures, with participation from Sharrp Ventures and other investors.

The Gurugram-based brand will use the funding for R&D, expanding its manufacturing capacity, and scaling distribution across quick commerce and offline channels, as it looks to launch a wide range of products.

Troovy was founded in 2023 by Mansi Baranwal and Aditya Mukherjee with the goal of providing nutritious food. Its portfolio spans categories such as snacks, sauces and spreads, and millet pasta. It says its vacuum-cooked potato chips have 10-12% oil and high protein, compared with 35-40% oil in mainstream chips. It also promises clean-label ketchups and seasonings without synthetic additives or preservatives.

Troovy's co-founder & CBO Aditya Mukherjee said, "This backing (investment) is a vote of confidence in a model most food companies don't use: building with the people who'll actually eat what you make. When you build with users, you have to push innovation, because users don't settle. It's not enough to replace the oil and sugar; you have to reduce them dramatically.”

Troovy says it has engaged with over 100 mothers and their children through community-led discussions, recipe brainstorming, and product tastings. These conversations have helped shape the brand’s approach to creating snacks with good ingredients, without harmful preservatives or additives, while maintaining the taste that children expect, the company said.

Ankita Balotia, Principal, Fireside Ventures, said, "Troovy grew 5x in the eight months following our last investment, and that is what made us double down. The team has executed incredibly well on growth, and the backend supply chain.”

Troovy had raised $5 million in a Series A round of funding in January this year.