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True Elements raises $1.36M funding

Pune: True Elements, a clean label health foods brand operated by HW Wellness Solutions Pvt Ltd, has raised Rs 10 crore ($1.36 million) in funding.

Pune-based True Elements has raised this capital from Maharashtra State Social Venture Fund (MSSVF), managed by Sidbi Venture Capital, which is a wholly-owned subsidiary of Small Industries Development Bank of India.

True Elements was set up by Puru Gupta and Sreejith Moolayil. It markets products including muesli, seed mixes, oats, and oatmeal. Women make up 75% of the workforce at its factory in Pune.

In a statement, Gupta said the company will now focus on maintaining consistent growth in its Ebitda (earnings before interest, taxes, depreciation, and amortization) margins while scaling itself.

Source
VCCiRCLE

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