With help from Puro Wellness and V Ocean Investments, the millet-based snack business Troo Good has received Rs 72 crore, or roughly $8.6 million, from Oaks Asset Management. According to Troo Good's regulatory filing, which Entrackr was able to receive from the Registrar of Companies, the board has decided to issue 10,176 equity shares in order to raise the previously specified amount.

Oaks Asset Management, an existing investor, donated Rs 37 crore, while Puro Wellness and V Ocean Investments made contributions of Rs 25 crore and Rs 10 crore, respectively. The company will use these money to cover its working capital requirements, according to the filing. With the inclusion of its Rs 55 crore Series A led by Oaks Management in November 2021, the firm has raised over Rs 132 crore to far.

TheKredible, a startup data intelligence platform, estimates that Troo Good's post-allotment valuation will be $38 million, or Rs 322 crore. After the latest fundraising, Puro Wellness and V Ocean Investments would control 7.75% and 14.28% of the capital, respectively, with Oaks Asset Management controlling a substantial 28.89% of the total.

Troo Good, a Hyderabad-based business founded in 2018 by Raju Bhupati, offers a variety of millet-based snacks, such as chikkis, protein bars, and nutri bars. More than two million millet chikkis and other millet snacks are allegedly sold daily by the company.

Although the company has not yet released its FY24 financial results, Troo Good saw a little increase in revenue of 7%, reaching Rs 52.7 crore during the fiscal year that ended in March 2023. However, Troo Good was able to turn a profit during that same time because to efficient cost control. Slurrp Farm, which raised $7.2 million in January of this year, is its rival.