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Wholsum Foods, the parent company of millet-based children’s brand Slurrp Farm, reported 33% year-on-year revenue growth in FY25, reaching Rs 97.5 crore, compared to Rs 73.2 crore in FY24, according to the financial statements sourced from Registrar of Companies (RoC).
Wholsum Foods Financials
Nearly 98% of the company’s total revenue (Rs 95.5 crore) was generated from operations, while the remaining 2% came from other income sources.
Slurp Farm Toddler (cereals, sweetener, teething puffs) contributed the largest share at 36.13% of operating revenue in FY25. This was followed by Slurp Farm Breakfast (pancake, oats, dosa, and chutney cereals) at 28.2%, Slurp Farm Meals (hakka noodles, pasta, and vermicelli) at 12.13%, Mille (grains, pancake, pasta, puff) at 10%, while other products accounted 13.4% of the operating revenue.
Cost of materials consumed accounted for 13% of the total expenses at Rs 16.83 crore in FY25, compared to Rs 11.9 crore in FY24. Employee benefits expenses surged nearly 60% to Rs 21 crore in FY25, up from Rs 13.25 crore in FY24. Finance cost and depreciation expenses remained relatively modest in FY25, at Rs 98 lakhs and 40 lakhs, respectively.
Advertisement and business promotion expenses rose 12.5% to Rs 39.5 crore in FY25, from Rs 35.2 crore in FY24. Freight and forwarding expense stood at Rs 12.5 crore during the year.
The company reported a net loss of Rs 32.67 crore in FY25, marking a 30% year-on year increase from Rs 25.26 crore in FY24. On a unit economics basis, Wholsum Foods spent Rs 1.36 to generate every rupee of revenue in FY25, compared to Rs 1.33 in FY24.
Wholsum Foods Funding
Recently, the company raised Rs 30 crore (approximately $3.3 million) in an extended Series C round from Scarlet Ventures. In January 2024, it secured Rs 59.9 crore (approximately $7.2 million) from existing investors Fireside Venture and Raed Capital, with new investors Alkemi Ventures and Madhurima International.
In February 2022, the company raised $7 million (Rs 53 crore) in a round led by Investment Corporation of Dubai with participation from existing investor Fireside Ventures. Earlier in December 2020, it raised $2 million (approximately Rs 15 crore) in a Series A round from Fireside Ventures.
About Wholsum Foods
Founded in 2016 by Meghana Narayan and Shauravi Malik, Wholsum Foods is a Gurugram-based health-focused food startup backed by Bollywood actress Anushka Sharma. It is the parent company of the popular millet-based children’s brand Slurrp Farm and the adult-focused brand Millé. The company offers nutritious, traditional, and preservative-free snacks and meal solutions, including millet pancakes, noodles, and cookies.
Wholsum Foods operates through two distinct brands catering to different age groups. Slurrp Farm focuses on nutritious, millet-based foods for children and families. On the other hand, Millé targets adults (25-40 age group) with high-protein, high-fibre supergrain products.
Its products are available through its direct-to-consumer websites, as well as leading e-commerce and quick-commerce platforms like Amazon, BigBasket, FirstCry, Blinkit, and Swiggy Instamart.