Millet snack brand Troo Good announced Tuesday that it has raised $9 million in a new funding round led by Puro Wellness, with continued support from existing investors Oaks Asset Management and V Ocean Investments.

According to the Hydera-based startup, this latest capital injection will be used to expand its infrastructure, improve its distribution network and fuel innovation in its product offerings.

With this round, Troo Good’s total funding reaches around ₹130 crore. The company last raised ₹55 crore in its Series A round in November 2021 and has since demonstrated strong profitability and consistent revenue growth.

“The company has remained consistently profitable, showing year-over-year revenue growth, while competing in the highly competitive consumer packaged goods market. This focus on profitability and expansion of its retail presence, online sales channels and new geographies has strengthened investor confidence, as demonstrated by the continued support of Oaks Asset Management and V Ocean Investments,” the company said in a statement.

Raju Bhupati, founder and CEO of Troo Good, described the funding as a key milestone, saying: “This capital will help us scale our infrastructure, expand our distribution network and continue our focus on innovation. We aim to make healthy and affordable millet-based snacks accessible across India, and this partnership with Puro Wellness brings immense strategic value to our mission.

Puro Wellness founder Ruchir Modi echoed these sentiments, adding that his company aligns with Troo Good’s vision of providing affordable wellness foods to the mass market. “Our collaboration will ensure Troo Good becomes a household name, helping millions of people access healthier snacking options,” he said.

Since its inception in 2018, Troo Good has made a name for itself with millet-based snacks, including its popular chikkis, protein bars and Nutri bars. The company says it currently sells more than 3 million units of its millet snacks per day.

With this new funding, Troo Good is poised to tap into the growing demand for healthy, sustainable snacks, cementing its leadership in the millet-based category.