Troovy raises Rs 100 crore in Series B round led by Fireside Ventures

MUMBAI: Troovy is looking to add more crunch to India’s better-for-you snacking market after raising Rs 100 crore in a Series B funding round led by Fireside Ventures, with participation from Sharrp Ventures and other investors.

The company will use the fresh capital to expand research and development (R&D) and manufacturing capacity, strengthen distribution across quick commerce platforms and offline retail, and develop new products in collaboration with families and innovators across India.

Founded by Mansi Baranwal and Aditya Mukherjee, Troovy is building its business around a challenge familiar to many parents: finding snacks that children enjoy without compromising on ingredients. The brand says its products are developed with a focus on reducing oil and sugar, avoiding synthetic additives and preservatives, and maintaining the taste children expect.

The latest fundraise follows a period of rapid growth. Ankita Balotia, principal at Fireside Ventures, said Troovy grew fivefold in the eight months following the investor’s previous investment, prompting it to increase its backing.

“The team has executed incredibly well on growth, and the backend supply chain, and the NPD and R&D DNA has only strengthened, from snacks to cookies and now milk mix,” Balotia said, adding that the brand continued to raise the bar for better-for-you products.

Troovy plans to use the new funding to accelerate its product development model, which involves working directly with parents and children to shape recipes, test flavours and refine ingredients before products reach the shelves.

The company began with discussions involving more than 100 mothers and their children, including community sessions, recipe brainstorming and product tastings. That early group has since grown into a network of more than 10,000 parents and children, with the company aiming to build products for more than five million families.

The founders started Troovy after their own experience as parents highlighted a gap in the market. Their son, Vihaan, questioned the snack choices available to children, prompting the couple to leave their corporate jobs and develop products with input from families in Gurugram.

“We used to meet every week to brainstorm, taste, reject, re-taste, and debate ingredients for products that didn’t yet have a name,” said Troovy chief executive officer and co-founder Mansi Baranwal. “Our community of parents and kids told us ‘no’ more times than they told us ‘yes’, and that’s exactly why Troovy works.”

The brand’s portfolio includes vacuum-cooked potato chips that it says contain 10 to 12 per cent oil, compared with the 35 to 40 per cent it cites for mainstream chips. It has also introduced clean-label ketchup and seasonings, alongside vegetable- and millet-based chips designed to offer alternatives to conventional potato snacks.

Troovy chief business officer and co-founder Aditya Mukherjee said the funding backed a model that puts consumers at the centre of product development. He said the challenge was not simply to replace certain ingredients, but to reduce oil and sugar substantially while keeping synthetic additives out and maintaining taste and nutritional standards.

The company’s approach has also drawn support from early users. Heena, one of its earliest parent participants, said children’s feedback during tastings often determined whether a product moved forward. Dr Konnpal Anil, an early user, said the brand had maintained its focus on ingredient transparency.

With the new capital, Troovy is looking to scale both its product range and its reach. Its next phase will test whether a community-led approach to product development can translate into a broader presence across India’s fast-growing market for healthier snack alternatives.