A fresh fundraising round spearheaded by Puro Wellness has seen $9 million raised for the millet-based snack company Troo Good. Participating investors include Oaks Asset Management and V Ocean Investments.

Earlier this month, Entrackr was the only outlet to exclusively report on the money.

With the inclusion of its Rs 55 crore Series A led by Oaks Management in November 2021, the firm has raised approximately Rs 132 crore (or about $15.7 million) altogether too far.

TheKredible, a startup data intelligence platform, estimates that Troo Good's post-allotment valuation will be $38 million, or Rs 322 crore.

The money raised will help the business with its plans to improve distribution capabilities, build out its infrastructure, and spur product innovation.

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.

Its rival is Slurrp Farm, which raised $7.2 million in January of this year, according to Entrackr's exclusive report.

Expressing to this, Raju Bhupati, Founder says, “With this we can scale our infrastructure, expand our distribution network across India, and focus on innovative millet-based products. We are committed to making healthy, affordable snacks accessible to all and are excited about the opportunities ahead.”

Similarly, Vivek Anand PS, Partner at Oaks Asset Management states, “Troo Good has consistently delivered value year after year, proving the strength of its business model and the exceptional leadership of founder Raju Bhupati.”