Total amount raised
$2.7 Millions
Latest funding date
01/01/2022
Location
True Elements has successfully raised funding through a Seed round, with notable investors including SIDBI Venture Capital and RP-Sanjiv Goenka Group. The company was acquired by Marico on May 23, 2022, marking a significant milestone in its growth journey.
Keep reading to explore the intricacies of True Elements' fundraising journey and the investors backing this innovative platform.
What Is True Elements?
True Elements, founded on December 14, 2014, is a prominent player in the food and beverage industry, specializing in healthy breakfast and snack options. The company is headquartered in Pune, Maharashtra, India, and operates under the legal name HW Wellness Solutions Pvt Ltd.
Co-founded by Puru Gupta and Sreejith Moolayil, True Elements employs between 101-250 people. Their product range includes Western and Indian breakfast items, as well as various snacks, emphasizing natural and unprocessed ingredients. The company was acquired by Marico on May 23, 2022, marking a significant milestone in its growth journey.
How Much Funding Has True Elements Raised?
- Seed Round
- Amount Raised: ₹50M (approximately $788,500)
- Date: January 4, 2018
- Lead Investors: RP-Sanjiv Goenka Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and expansion efforts.
- Series A
- Amount Raised: $1.4M
- Date: January 12, 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 operations.
- Seed Round
- Amount Raised: $512K
- Date: January 21, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market reach and product offerings.
Total Amount Raised: $2.7M. 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 various funds, including the Maharashtra State Social Venture Fund (MSSVF).
- Investment Focus Areas: Small and medium enterprises (SMEs), social ventures, scalable business models.
- 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, entertainment, and IT. The group has a significant presence in India and operates globally.
- Investment Focus Areas: Power, carbon black, retail, media, entertainment, IT.
- Notable Investments: True Elements.
What's Next for True Elements?
True Elements stands at the cusp of significant growth opportunities, driven by the increasing consumer demand for clean label and health foods. With recent funding from the Maharashtra State Social Venture Fund, the company is well-positioned to scale its operations and maintain consistent growth in EBITDA margins. The brand's extensive sales channels, including its website, marketplaces, and over 6,000 general stores across India, provide a robust foundation for expansion.
Future fundraising opportunities appear promising, as venture capital and private equity firms are likely to be attracted to True Elements' profitable and scalable business model. However, the company may face challenges such as maintaining growth margins, managing supply chain costs, and competing with other health food brands. Despite these hurdles, True Elements' focus on socially responsible and sustainable practices positions it favorably for continued success in the evolving food industry landscape.
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