**Farmley Secures $40 Million in Series C Funding to Expand Healthy Snacking Line**
Healthy snacking brand Farmley has successfully raised $40 million in its Series C funding round, led by global consumer investment firm L Catterton, along with participation from existing investors like DSG Consumer Partners. This significant funding boost comes as the company reports a nearly 60% increase in revenue, reaching ₹370 crore in FY25, and aims to further reduce losses while moving closer to Ebitda profitability, according to co-founder Abhishek Agarwal.
The funding round primarily consisted of new capital, with a minor secondary component allowing some angel investors to exit. Although the company has not disclosed its valuation, it plans to utilize the funds to enhance its infrastructure and expand its presence in the dried fruits and nuts segment of India’s burgeoning healthy snacking market. Agarwal stated, “The bulk of the funds will go towards enhancing our state-of-the-art infrastructure to meet the growing demands. We are also planning to enter new product categories and formulations.” The company is also focusing on strengthening its offline distribution across various regions and exploring export opportunities.
This latest capital infusion marks a significant increase from Farmley’s previous funding round in December 2023, where it raised $6.7 million in a pre-Series B round led by BC Jindal Group, with contributions from DSG Consumer Partners, Omnivore, and Alkemi Partners. At that time, the company was valued at approximately ₹350 crore, according to market intelligence provider Tracxn.
Farmley does not operate its own retail stores but is present in offline establishments such as supermarkets and through franchise partnerships. Over the past two years, the company has heavily invested in its online channels, including quick commerce and e-commerce platforms.
In FY24, Farmley’s revenue from operations increased to ₹230 crore, up from ₹169.83 crore in FY23, while narrowing its losses to ₹26 crore from ₹33 crore the previous year. Currently, the company derives about 45% of its business from quick commerce, 25-30% from e-commerce, 10% from modern trade, 7-8% from general trade, and the remainder from partnerships with various airports and airlines, including Akasa and Air India.
The dried fruits and nuts segment of India’s healthy snacking market is projected to grow at an annual rate of approximately 14% over the next six years, potentially exceeding $8.5 billion by 2030.
**FAQ**
**What is Farmley’s primary focus with the new funding?**
Farmley aims to enhance its infrastructure, expand into new product categories, and strengthen its offline distribution while exploring export opportunities.