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Business EconomyPosted at: Nov 11 2021 5:39PM


Troo Good raises Rs 55 cr in Series A funding round from OAKS to expand its product portfolio

Hyderabad, Nov 11 (UNI) Hyderabad-based Troo Good, the market leader of the Indian millet snacks industry, on Thursday announced it has raised INR 55 crore in Series A funding round from OAKS Asset management, to expand its product portfolio by introducing new millet based products.
It is aiming to clock Rs 300 crore revenue in the next three years.
With these funds, besides setting up of five more new factories in the coming months in Andhra Pradesh, Telangana and Chattisgargh, Troo Good will also expand its business in Andhra Pradesh and Telangana and in several other states across the country, Company CEO and Founder Raju Bhupati said at a press conference here.
The Company manufactures millet chikkis from its three highly templatized factories spread across in Telangana and Andhra Pradesh, he said the company currently sells more than 15 million healthy and nutritious millet snacks a month to different sections of population across both the Telugu states.
It has been contributing significantly towards meeting the nutritional needs of children through its flagship millet chikki.
Mr Bhupati said, along with the flagship product, the company is also creating a range of other millet-based products that we are mainly focusing on 4-5 millet based products out of the 14 products available.
We are also planning to expand our footprint in neighboring states of Maharashtra and Odisha, he said.
The Indian snacking market is 12 billion US dollars in FY21 and is expected to grow at over 12 per cent over the next decade while the Chikki market is estimated to be around 1 billion US dollars, the Company CEO added.
OAKS Asset management Chief Investment Officer Kenneth Serrao said we are very excited to be partnering with Troo Good and helping it grow its footprint from AP and Telangana where it currently operates to the rest of India.
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