Homegrown healthy snacking startup Troovy is understood to be in advanced discussions to raise between Rs 150 crore and Rs 200 crore in a potential Series B funding round, according to two individuals said to be familiar with the matter. The financing round is likely to be anchored by the Abu Dhabi Investment Authority (ADIA), which, if it proceeds, would signal a notable shift in the sovereign wealth fund’s investment approach within the Indian consumer internet ecosystem.
ADIA has historically directed its capital toward scaled consumer enterprises with established market traction. Its earlier portfolio investments in India include late stage internet brands such as Purplle, FirstCry, Nykaa, and Lenskart, where funding was provided after these companies had achieved significant scale and market presence. The reported transaction involving Troovy would represent a relatively earlier stage bet for the Abu Dhabi based institutional investor.
Funding Round
Should the round materialize, the capital is expected to be deployed toward portfolio expansion in the clean label food segment. According to reports, Troovy is said to be planning to use the proceeds for product innovation and strengthening its distribution footprint across quick commerce platforms and broader omnichannel infrastructure.
Existing institutional backers, including consumer focused venture fund Fireside Ventures, are believed to be considering participation in the proposed round. As per sources, “The transaction is in its final stages of completion, and the parties involved are finalising the paperwork,” one of the individuals claimed, requesting anonymity as the discussions remain confidential.
Capital Procurement
The reported Series B discussions follow a busy capital raising cycle for the consumer brand over the past year. Troovy had earlier secured $5 million in its Series A round in January, led by Fireside Ventures and Sharrp Ventures, with participation from Spring Marketing Capital and Veltis Capital. Prior to that, the startup raised $2.3 million (approximately Rs 20 crore) in a pre Series A round led by Fireside Ventures in May 2025.
According to statutory filings, Troovy posted operating revenue of Rs 6.05 crore for the fiscal year ended March 31, 2025. Net losses for the same period stood at Rs 10 crore, reflecting high customer acquisition costs and marketing expenses typical of early stage direct to consumer (D2C) brands seeking to build market share.
Segment Dynamics
The reported interest from global institutional capital highlights a growing appetite for India’s premium health food market. Kids’ nutrition and healthy snacking categories are witnessing heightened competition as urban households increasingly seek alternatives to mass market snacks. Within this niche, Troovy competes with players such as Slurrp Farm, Timios, and other emerging digital first brands targeting younger demographics.
Expansion into quick commerce platforms has become a critical requirement for modern consumer brands, as instant delivery services continue to capture share from traditional retail and legacy e commerce channels in metropolitan areas.
About Troovy
Founded by Mansi Baranwal and Aditya Mukherjee, Troovy operates in the clean label food category. The company produces and distributes a range of snacks and nutrition products aimed at children, including chips, puffs, cookies, and milk mixes. The brand positions its offerings around preservative free ingredients and healthier alternatives to conventional packaged foods.
