Farmley, the thriving, healthy snacking brand, raised $6.7 million in a pre-Series B funding round spearheaded by BC Jindal Group. Existing investors, including DSG Consumer Partners, Omnivore, and Alkemi Partners, also participated in the round, showcasing their continued confidence in the brand.
This funding infusion follows the $6 million Series A round led by DSG and Alkemi in August of the previous year. In 2020, Farmley had secured $2 million in a seed round from Omnivore and Insitor. The latest capital injection is poised to propel Farmley’s expansion strategy further, focusing on strengthening its footprint in offline retail spaces and amplifying brand-building initiatives.
Founded in 2017 by Akash Sharma and Abhishek Agrawal, Farmley has established robust connections with domestic and international farming communities to source high-quality nuts and dry fruits. With a diverse product portfolio exceeding 100 items, the brand has strategically positioned itself on prominent e-commerce and quick commerce platforms such as Amazon, Flipkart, Blinkit, Zepto, Instamart, and BigBasket. Moreover, Farmley boasts a presence in over 10,000 retail outlets across the top 50 cities in India.
In a recent press release, the company affirmed that the infusion of funds would be pivotal in expanding its offline retail presence and bolstering brand awareness. Notably, Farmley recently enlisted former Indian cricketer Rahul Dravid as its brand ambassador, a move expected to enhance its market visibility.
Farmley’s success story extends beyond national borders, with a global presence in the United States, the Middle East, and Australia. The brand has positioned itself as a formidable competitor to industry counterparts, including Happilo and True Elements, which secured substantial backing from significant groups in the previous year.
As of FY23, Farmley has reported an impressive revenue of approximately Rs 150 crore, achieving a significant milestone with a growth rate exceeding 400% over the past two years. Additionally, the company announced that it has achieved positive EBITDA, further solidifying its financial standing.
With this latest funding round, Farmley is well-positioned to continue its trajectory of growth and innovation in the competitive, healthy snacking market, both domestically and internationally.
