Indian healthy snacking brand Farmley raises $42 million in funding

Indian healthy snacking brand Farmley today said it has completed a $42 million Series C funding round led by L Catterton, a global consumer-focused investment firm. The round also saw participation from existing backers such as DSG Consumer Partners.

Founded in 2017 and endorsed by former cricket captain Rahul Dravid, Farmley offers a wide range of innovative better-for-you snacking options, including Makhana-based munchies, Date Bites, and roasted nuts.

"We are committed to reimagining snacking for the modern Indian consumer, transforming what was once considered mere convenience food into a wholesome delightful experience. We are thrilled to partner with L Catterton as its differentiated combination of global and local insights into our industry, as well as proven operating capabilities will be instrumental as we continue revolutionizing the healthy snacking landscape in India," Co-Founders Akash Sharma and Abhishek Agarwal said in a joint statement. 

The startup claims that its revenue has risen by approximately 55% annually over the past two years to reach around $41 million in FY25. Moreover, its unique farm-to-palm model empowers farmers, promotes sustainable practices, and delivers exceptional quality to its customers, the release notes.

Purpose of fundraising

According to the founders, Farmley will now focus on penetrating untapped regional markets, developing cutting-edge product formulations, and leveraging advanced food technology to create snacks "that nourish both the body and the palate."

"Farmley has been able to astutely capitalise on long-term consumer trends with its better-for-you positioning and high-quality products which resonate with customers. Its robust dried fruit and nut sourcing capabilities, prolific new product development engine, and strategic partner status across key sales channels have been vital drivers of the company's growth in its category," said L Catterton Partner and Head of India Anjana Sasidharan.