Total amount raised
$2.7 Million
Latest funding date
01/01/2022
Location
True Elements has successfully raised funding over three rounds, all of which are Seed rounds. The company is backed by investors including SIDBI Venture Capital and RP-Sanjiv Goenka Group.
Keep reading to explore the intricacies of True Elements' fundraising journey and the investors backing this innovative platform.
What Is True Elements?
True Elements is a company based in Pune, Maharashtra, India, specializing in healthy breakfast and snack options. The company offers a wide range of products, including oats, muesli, seeds, dry fruits, shakes, honey, and tea. They emphasize natural ingredients and sustainability, promoting products with no added sugar, preservatives, or artificial colors.
Operating as a private entity, True Elements has been acquired by Marico and has raised funding through multiple Seed rounds. The company employs between 101-250 people and is known for its commitment to quality and innovation in the food and beverage industry.
How Much Funding Has True Elements Raised?
- Seed Round
- Amount Raised: USD 512,000
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development of the company.
- Series A Round
- Amount Raised: USD 1,400,000
- Date: January 2021
- Lead Investors: SIDBI Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To maintain consistent growth in EBITDA margins while scaling the business.
- Seed Round
- Amount Raised: USD 788,500
- Date: January 2018
- Lead Investors: RP-Sanjiv Goenka Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion.
Total Amount Raised: USD 2,700,500. Current Valuation: Not publicly disclosed.
Key Investors
- SIDBI Venture Capital
- Details: SIDBI Venture Capital is a subsidiary of the Small Industries Development Bank of India (SIDBI). It manages the Maharashtra State Social Venture Fund (MSSVF), which focuses on investing in companies with profitable, scalable business models that also provide social benefits.
- Investment Focus Areas: Social enterprises, scalable business models, profitable ventures
- Notable Investments: True Elements
- RP-Sanjiv Goenka Group
- Details: RP-Sanjiv Goenka Group is a diversified conglomerate with interests in power, carbon black, retail, media, and entertainment. The group led the pre-Series A funding round for True Elements in January 2018.
- Investment Focus Areas: Power, carbon black, retail, media, entertainment
- Notable Investments: True Elements
- Maharashtra State Social Venture Fund (MSSVF)
- Details: Managed by SIDBI Venture Capital, MSSVF was established in September 2015 and is registered with the Securities and Exchange Board of India as a Category-I Alternative Investment Fund. It focuses on investing in companies that provide social benefits.
- Investment Focus Areas: Social enterprises, scalable business models, profitable ventures
- Notable Investments: True Elements
What's Next for True Elements?
True Elements stands at the cusp of significant growth opportunities, driven by the rising demand for clean label health foods. Leveraging its extensive sales channels, including its website and over 6,000 general stores, the company is well-positioned to scale its business and maintain consistent growth in EBITDA margins.
Future fundraising opportunities appear promising as the company continues to focus on scaling and maintaining growth. The health foods sector's upward trend and the increasing consumer interest in natural, sustainable products provide a fertile ground for potential investors.
However, True Elements may face challenges such as managing operational costs and competing with established brands. Maintaining consistent growth in EBITDA margins while turning net losses into profits will be crucial for the company's sustained success.
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