Matrix-backed Open Secret Raises A Series A Investment Round Led By Sixth Sense Ventures

 Open Secret, a brand with a vision to “un-junk” the Indian health snack market through high-quality health snacks targeted at families and children, announced today that it has raised a series A investment round, led by Sixth Sense Ventures. The round also saw participation from existing investor Matrix Partners India.

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Founded by Ahana Gautam and Udit Kejriwal in 2019, Open Secret has experienced 10X growth over the past year driven by strong consumer demand across their expanding portfolio of products: cookies, chips, spreads, nuts and shake mix. “Mother” is the chief product officer at Open Secret and this strategic expansion of products is a result of solving her problems around various snacking moments.

The freshly infused capital will be used to launch more products, build capacity, strengthen the team, scale up the capabilities in tech and expand omnichannel distribution presence.

Ahana Gautam, CEO and Co-founder, Open Secret said “Growing up in a small city and being raised by a working mother, I always struggled with unhealthy snacking habits as a kid. During my MBA at Harvard Business School, I realized how people there were conscious about what they were snacking and the variety of healthy, tasty, and convenient options they had. It made me wonder why Indian families had limited snacking options and were mostly junk. We therefore, started on a mission to become a household snacking brand in India which stands for both taste and health. We experienced 10X growth over the past year and expanded to 4 more categories. This has been an outcome of the hustle and efforts by every team member, every factory worker (predominately women), and we are grateful for every single family who has placed their trust in us. We are on the path to becoming a leading snacking brand by un-junking snacks in India which is a $10B+ category. We are excited to partner with Sixth Sense on this next phase of growth and leverage their expertise in the consumer sector, and to continue to build upon our partnership with Matrix. Today, as we mark this milestone, we pledge to continue what we started on Day 1 – make every Indian family snack better.”

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Nikhil Vora, Founder & CEO of Sixth Sense Ventures, said “Open Secret is perfectly aligned with our investment philosophy of betting on first generation founders, building new age products for the “consumer of tomorrow”, in large markets ($10B+ Indian snacking market). With a strategic focus on the kids’ segment and the core value proposition around “un-junking”, we believe Open Secret has the ability to create a strong niche for itself. Founded by a pedigreed team, they have created a sound pipeline of indulgent yet healthier products. From here on, our sense is that strong execution can drive immense scale making Open Secret a household brand. We hope to accelerate this journey for the team.”

Sanjot Malhi, Director, Matrix India, commented “We have been fortunate to be early partners with Ahana and Udit on this journey of un-junking the Indian snack space. The growth and customer love achieved over the last 12 months is a reflection of the success of Open Secret’s mission to be a leading health-foods player in India. We welcome Sixth Sense to the partnership and look forward to the next phase of growth!”

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