Open Secret Raises ₹50 Cr Led By Desai Brothers To Scale Offline Beyond 500 Outlets

D2C healthy snacking brand Open Secret has raised ₹50 Cr, led by Desai Brothers Group, to expand its retail footprint past 500 outlets and push into savoury snacks. The brand is at ₹200 Cr ARR with 10% MoM growth and targets ₹1,000 Cr ARR in three years while staying EBITDA-profitable.

— Source publishedWed, 15 Jul, 2026, 14:19 IST·First seen Wed, 15 Jul, 2026, 15:17 IST·Source Inc42

What happened

D2C healthy snacking brand Open Secret raised ₹50 Cr led by Desai Brothers Group to expand offline presence beyond 500 outlets and scale savoury snacks,

Key facts

  • ₹50 Cr
  • $5.2 Mn
  • ₹30 Cr primary equity
  • 500+ retail outlets
  • ₹200 Cr ARR
  • 10% MoM growth
  • ₹1,000 Cr ARR target
  • $8.1 Bn market by 2033

Why this matters

Desai Brothers' lead position hints at deeper distribution synergies or eventual consolidation, making Open Secret a watch-item for partnership or acquisition plays in healthy snacking.

What to watch

  • Outlet count and same-store velocity trajectory vs 500 target
  • EBITDA margin trend as offline mix rises
  • MoM growth rate holding near 10% post-expansion
  • Savoury category attach rate and repeat purchase
  • Competitive response from Too Yumm, Yoga Bar, incumbent healthy-snack players
  • Sign modern-trade and general-trade distributor agreements leveraging Desai's FMCG rails
  • Launch savoury SKU line with differentiated health claims (baked, millet, low-oil)
  • Build regional warehousing and cold/dry logistics to support 500+ outlet velocity
  • Hire offline sales and category management leadership from legacy FMCG

Also reported by