[Funding News] Troovy Talks to Raise Rs 13 Cr Funding

Troovy, a sauce-making startup, is in the process of securing Rs 11-13 crore (approximately $1.5 million) in funding from Sharrp Ventures, the investment agency of the Harsh Mariwala family of Marico, according to sources who spoke with Indian Startup News (ISN).

The funds will be allocated to Troovy's expansion of its assortment and stock-keeping units (SKUs) as well as its expansion of its market presence in order to compete with other competitors such as Veeba, Wingreens, MasterChow, and others.

The sauce sector in India is experiencing a surge in activity, as a number of companies are raising capital as investors become increasingly optimistic about their potential for development.

According to the sources, the round is still in progress and is expected to attract additional investors.

Read also - Aye Finance Raises $30 Mn Series G Funding Round from ABC Impact

Troovy's current round will be the most significant since its inception in 2021. The company has previously secured lesser funding rounds from Veltis Capital, Swadharma Source Ventures, and other investors.

Troovy, a company headquartered in Gurugram, is in the process of concluding a funding round shortly after its competitor, MasterChow, completed a new funding round headed by Tanglin Venture Partners, a fund based in Singapore and India.

About Troovy

Founded in 2021 by Mansi Baranwal, Troovy, is a sauce startup that aims to provide nutritious, wholesome products for children.

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