ETtechSnack brand Farmley has raised $40 million in a funding round led by global consumer-focused investment firm L Catterton.
The round also saw participation from existing investor DSG Consumer Partners.
According to cofounder Abhishek Agarwal, the round comprised 70% primary capital and remaining secondary sales by early stage investors like Insitor and Samunnati, along with Esops.
The funds will be used for capital expenditure, expanding distribution channels across India, and boosting exports.
“We will also invest in formulations and cutting-edge technologies to develop high-quality products with the right ingredients, health benefits, and taste,” Agarwal told ET.
Founded in 2017 by Akash Sharma and Agarwal, the Noida-based firm offers a range of snacks, including makhana-based munchies, date bites, seeds, trail mixes, and roasted nuts. The company sources directly from around 5,000 farmers across multiple regions with five processing units.
“We’ve been strong so far in the online space, including ecommerce and quick commerce. We’ve also entered offline distribution, including modern trade and general trade. The response has been very positive, so we plan to scale up that vertical in this financial year,” he said.
According to Agarwal, ecommerce now accounts for 35% of the business, while quick commerce contributes 40%. Modern trade brings in 10%, general trade adds 7-8%, and the remaining share comes from institutional channels such as airlines.
Farmley saw a 55% revenue growth, reaching Rs 370 crore in FY25, with monthly sales averaging around Rs 40 crore during the year.
“We’ve been growing almost double on all the quick commerce channels, so we will continue that growth in the quick commerce space. However, the idea is to expand as much as possible in the offline distribution channel. These two will be the primary channels for scaling up over the next year and a half,” Agarwal said.
The startup is also eyeing global expansion and has been piloting its products in markets such as the US, Australia, Canada, and Singapore.
It last raised $6.7 million in a funding round led by BC Jindal Group. The startup has raised around $55 million in total to date.
Commenting on the investment, 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.”
The round also saw participation from existing investor DSG Consumer Partners.
According to cofounder Abhishek Agarwal, the round comprised 70% primary capital and remaining secondary sales by early stage investors like Insitor and Samunnati, along with Esops.
The funds will be used for capital expenditure, expanding distribution channels across India, and boosting exports.
“We will also invest in formulations and cutting-edge technologies to develop high-quality products with the right ingredients, health benefits, and taste,” Agarwal told ET.
Founded in 2017 by Akash Sharma and Agarwal, the Noida-based firm offers a range of snacks, including makhana-based munchies, date bites, seeds, trail mixes, and roasted nuts. The company sources directly from around 5,000 farmers across multiple regions with five processing units.
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“We’ve been strong so far in the online space, including ecommerce and quick commerce. We’ve also entered offline distribution, including modern trade and general trade. The response has been very positive, so we plan to scale up that vertical in this financial year,” he said.
According to Agarwal, ecommerce now accounts for 35% of the business, while quick commerce contributes 40%. Modern trade brings in 10%, general trade adds 7-8%, and the remaining share comes from institutional channels such as airlines.
Farmley saw a 55% revenue growth, reaching Rs 370 crore in FY25, with monthly sales averaging around Rs 40 crore during the year.
“We’ve been growing almost double on all the quick commerce channels, so we will continue that growth in the quick commerce space. However, the idea is to expand as much as possible in the offline distribution channel. These two will be the primary channels for scaling up over the next year and a half,” Agarwal said.
The startup is also eyeing global expansion and has been piloting its products in markets such as the US, Australia, Canada, and Singapore.
It last raised $6.7 million in a funding round led by BC Jindal Group. The startup has raised around $55 million in total to date.
Commenting on the investment, 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.”
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