Open Secret raises over Rs 50 Cr to push offline retail and scale savoury range

Healthy snacks D2C brand Open Secret has raised over Rs 50 crore, including Rs 30 crore in primary equity from Desai Brothers Group plus debt. Funds will expand its 500+ store offline footprint (DMart, Reliance Smart), grow the savoury portfolio, and deploy AI across the supply chain. Brand is at Rs 200 crore ARR with a Rs 1,000 crore target in 3 years.

— Source publishedWed, 15 Jul, 2026, 19:33 IST·First seen Wed, 15 Jul, 2026, 19:45 IST·Source YourStory · Capital

What happened

Healthy snacks D2C brand Open Secret raised over Rs 50 crore from Desai Brothers Group and debt to expand offline retail (already in DMart, Reliance Smart),

Key facts

  • Rs 50 crore raised
  • Rs 30 crore primary equity
  • Rs 200 crore ARR
  • 10% MoM growth
  • 500+ retail outlets
  • Rs 1,000 crore ARR target in 3 years

Why this matters

The Desai Brothers Group primary equity stake signals strategic FMCG interest in healthy snacks, making Open Secret a potential future acquisition or deeper partnership target as it scales savoury and offline retail.

What to watch

  • Same-store velocity and repeat rate in DMart/Reliance vs D2C channel
  • Gross margin trend as savoury (lower-margin) portfolio scales
  • Desai Brothers stake changes or board additions signaling deeper control
  • ARR milestone disclosures (Rs 300 Cr, Rs 500 Cr) as pace check against Rs 1,000 Cr target
  • Competitive response from Yoga Bar, The Whole Truth, and legacy namkeen brands
  • Ramp savoury SKU launches and secure shelf placement in Desai Brothers' general-trade network
  • Deploy AI for demand forecasting and inventory to protect margins during offline expansion
  • Push store count well beyond 500 modern-trade doors and enter Tier-2 markets
  • Raise a larger growth round or debt tranche once offline traction validates unit economics

Also reported by