Snacking brand Troovy raises fresh funding of Rs 100 crore

Clean-label, digital-first snacking brand Troovy has formalised a new fund raise of Rs 100 crore, in a round led by Fireside Ventures and Sharrp Ventures, twice the amount it raised earlier this year.

The snacking brand founded by entrepreneurs Aditya Mukherjee and Mansi Baranwal in 2021, competes with players such as Slurrp Farm, Farmley and phab.

The development comes at a time when India is set to introduce front-pack labelling for foods high in sugar, salt and fats. Baranwal, co-founder of Troovy, said: “There is a growing segment that is very conscious about ingredients for whom front-pack-labels will really matter. We're seeing that in our growth numbers as well.”

In January this year, Troovy Foods had raised $5 million (Rs 45.8 crore) in a Series A round, also led by Fireside Ventures and Sharrp Ventures, with participation from Spring Marketing Capital and Veltis Capital.

The company did not disclose the valuation, but estimates suggest it at about Rs 400 crore.

The funds from the latest raise will be utilised for expansion of R&D and manufacturing capacity and scaling distribution across quick commerce and offline channels, Baranwal said.

The development comes at a time when the domestic clean and healthy snacking market is growing exponentially. An IMARC report estimated this market at US $3.28 billion in 2026 and estimated it to reach US $ 4.77 billion by 2034, growing at a CAGR of 4.80% during 2026-2034. The report noted rising health consciousness, demand for convenient on-the-go foods, and growing preference for low-calorie, high-protein, and natural snack options, as factors fuelling growth.

Meanwhile, the Food Safety and Standards Authority of India (FSSAI) has proposed a single-phase rollout of front-of-pack labelling (FOPL) before the Supreme Court, with packaged foods makers having to declare levels of sugar, salt or fats in red hexagonal labels. While the contentious FOPL issue has been in the making for nearly a decade amid pushback from big food companies, the matter escalated in recent months with the Supreme Court intervention.