# Mformillet Foods Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mformillet-foods-private

- Industry: Food
- Headquarters: Hyderabad, India
- Website: www.store.troogood.com
- Total disclosed funding: $6.2M
- Latest round: Series A (Nov 3, 2021)
- Investors on record: 2

## About

Based in India, Mformillet Foods Private Limited specializes in food products that cater to health-conscious consumers, focusing on the innovation and production of millet-based foods that promote sustainable living.Mformillet Foods Private Limited, founded in 2018, operates out of Hyderabad, India, and specializes in the production of millet-based food products. The company has successfully completed three funding rounds, with the most recent round occurring on October 1, 2024, in which it raised INR 720 million led by OAKS Asset Management, also involving investments from Puro Wellness Pvt. Ltd. and V Ocean Investments. The total amount raised by the company amounts to INR 720 million, and its current valuation stands at INR 3220 million.Mformillet Foods primarily focuses on innovative food solutions centered around millet-based products designed to enhance health and nutrition. Their offerings include a variety of food items that cater to health-conscious consumers, promoting sustainable eating habits. The products are marketed primarily through both e-commerce platforms and physical retail locations, providing broad accessibility to consumers seeking nutritious food options.In the most recent financial year of 2023, Mformillet Foods reported a revenue of INR 6,570,521.30, with an EBITDA of INR -59,264.80 for the same period. The revenue model is based on direct-to-consumer sales and partnerships with retailers, enabling the company to reach a diverse audience interested in healthy food alternatives.In October 2024, Mformillet Foods Private Limited raised INR 720 million in venture funding, which will be utilized to accelerate working capital. The company plans to expand its product line with new millet-based food offerings targeting health-conscious consumers and aims to penetrate international markets, with specific expansions planned for North America and parts of Europe by 2025.

## Funding rounds

- Series A, Nov 3, 2021, $6.2M — V Ocean Investments, OAKS Asset Management

## Investors

- V Ocean Investments — Series A
- OAKS Asset Management (https://capitalatlas.ai/funds/oaks-asset-management) — Series A