Open Secret Raises ₹50 Cr Led By Desai Brothers To Scale Offline Beyond 500 Outlets
D2C healthy snacking brand Open Secret raised ₹50 Cr (₹30 Cr primary equity) led by Desai Brothers Group to expand offline distribution and push into savoury snacks. The brand runs at ₹200 Cr ARR with 10% MoM growth, targeting ₹1,000 Cr ARR in three years while staying EBITDA profitable.
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 signals strategic distribution intent—watch whether this becomes an eventual acquisition path in the consolidating healthy-snacking space.
What to watch
- Outlet count trajectory vs 500 target and MT chain listings (Reliance, DMart, BigBasket)
- Whether MoM growth holds above 8% post-offline expansion
- Gross margin on savoury vs core sweet portfolio
- Competitive response from Yoga Bar, The Whole Truth, and legacy players
- Any dilution/valuation markers in a follow-on round within 18 months
- Open Secret hires ex-FMCG sales leadership and builds a super-stockist/distributor network leveraging Desai's supply chain
- Launch savoury SKU line with regional-flavor localization to differentiate from mass incumbents
- Deploy primary capital into contract manufacturing capacity and cold/GT logistics rather than performance marketing
- Signal path to ₹500 Cr ARR interim milestone to reassure profitability-focused investors