Farmley, a healthy snacking brand, has raised $42 million in its Series C funding round led by L Catterton, a global consumer-focused investment firm. The round also saw participation from existing investors such as DSG Consumer Partners.
A portion of the round, around 30%, comprises secondary sales by early-stage investors such as Insitor and Samunnati, and employee stock ownership plan (ESOP) payouts.
The fresh funds raised will be used for capital expenditure, expanding distribution channels across India, enhancing exports, and investing in product formulations and technologies.
Founded in 2017 by Akash Sharma and Abhishek Agarwal, Farmley is a healthy snacking brand that offers snacks such as makhana-based munchies, date bites, seeds, trail mixes, and roasted nuts. Moreover, its unique farm-to-palm model empowers farmers, promotes sustainable practices, and delivers exceptional quality to its customers.
Farmley’s revenue has risen by approximately 55% annually over the past two years to reach around $41 million in FY25.
Farmley Co-Founders Akash Sharma and Abhishek Agarwal said, “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. Our roadmap includes penetrating untapped regional markets, developing cutting-edge product formulations that blend nutrition with exceptional taste, and leveraging advanced food technology to create snacks that truly nourish both the body and the palate.”
L Catterton Partner and Head of India Anjana Sasidharan said, “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. We are excited to collaborate with the talented team at Farmley to further realise the company’s potential by drawing on our experience in building multiple food brands across the world.”
L Catterton has significant experience building brands in the packaged food sector across the world. Current and past investments in the space include Cholula Hot Sauce, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics.
