HonestInnovations ForYou Pvt Ltd, which operates healthy kids’ snacking brand Troovy, has raised Rs 100 crore ($10.6 million) in a Series B funding round led by consumer-focussed venture capital firm Fireside Ventures, with participation from Sharrp Ventures and other investors.
Founded in 2021 by Aditya Mukherjee and Mansi Baranwal, Troovy makes preservative-free snacks for children, including chips, sauces, spreads, pasta and breakfast cereals. Its products use natural ingredients and are made without refined sugar, maida or palm oil.
The proceeds will be used to expand research and development (R&D) and manufacturing capacity, and scale distribution across quick-commerce and offline channels, the company said in a statement. It will also look to launch a wider range of products in collaboration with families and innovators across India.
Ankita Balotia, principal at Fireside Ventures, said Troovy has registered fivefold revenue growth since the firm’s first investment in 2024, prompting it to double down.
“The team has executed incredibly well on growth, and the backend supply chain, and the NPD (new product development), and R&D DNA have only strengthened, from snacks to cookies and now milk mix,” Balotia said.
According to the statement, Troovy’s innovations include vacuum-cooked potato chips with lower proportion of oil and higher protein content, as well as vegetable- and millet-based chips.
Troovy reported revenue of Rs 6 crore and an operating loss of Rs 10 crore in FY25, according to Tracxn.
