In an effort to get tasty, good-quality, and nutritious food, consumers often have to spend a lot of money. Yet a significant chunk of that money does not reach the farmers or the actual food producers, instead getting absorbed by the company and the industry’s middlemen. According to Farmley, the packaged food industry needs to address issues in the way it has operated so far, and that’s why the company exists. Providing high-quality, unadulterated food at competitive prices, the healthy snacking brand has raised $6.7 million in a Pre-Series B round of funding led by BC Jindal Group.
The round also saw participation from existing investors like DSG Consumer Partners, Omnivore, and Alkemi Partners. Previously, in August 2022, the brand raised $6 million in a Series A round led by DSG and Alkemi Partners. And prior to that, it raised $2 million in a seed round led by Omnivore and Insitor.
The company aims to use the fresh funds to deepen the brand’s presence across the offline retail touchpoint; and intensify brand-building efforts. Farmley recently appointed former Indian cricketer Rahul Dravid as its brand ambassador.
Akash Sharma, co-founder of Farmley, said, “This new round of investment brings us a step closer to our mission of becoming a household brand and contributing to a healthier world. These funds will play a pivotal role in fueling our product innovation efforts, in diversifying distribution channels, and in amplifying the brand-building efforts. We would like to make people’s snacking experiences more wholesome by operating on consumer-first principles.”
About Farmley
Founded in 2017 by Abhishek Agarwal and Akash Sharma, Farmley promotes healthy snacking through their range of dry fruits, seeds, and nuts. Farmley’s team directly partners with farming leaders; this not only ensures high-quality and nutritious products but also uplifts the farming community by eliminating the middlemen.
Farmley offers a wide variety of over 100 products, ranging from everyday dry-fruit essentials, trail mixes, and healthy snacking options to more innovative offerings like a 100 percent natural dessert range derived from dry fruits and extruded munchies made from makhana flour. Its products are available on its website and through channels like Amazon, Flipkart, Blinkit, Zepto, Instamart, and BigBasket.
The firm revealed that it registered revenue of around Rs 150 crore in FY23. Moreover, it has crossed the Rs 300 crore ARR milestone, growing by over 400% over the last two years. According to the company, it has also turned EBITDA positive.
Alka Goel from Alkemi Growth Capital said, “Farmley is emerging at the forefront when it comes to offering wholesome and innovative snacking options to consumers. Consumers love their products and the various options that they provide around healthy snacking. We at Alkemi are inspired by the Farmley team’s aspiration to become the most loved healthy snacking brand. Their journey so far has been phenomenal, and we cannot wait for the world to try their products.”
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