D2C Snacking Brand Farmley Bags $40 Mn

D2C snacking brand Farmley has secured $40 Mn (around INR 338.8 Cr) in a Series C funding round led by L Catterton, along with participation from existing investor DSG Consumer Partners and BC Jindal Group.

The startup plans to use the fresh capital to further scale up India’s dried fruits and nuts segment in the healthy snacking market.

Farmley’s cofounder Abhishek Agarwal told Inc42 that 70% of the capital was primary, while the remaining 30% came from secondary sales by early-stage investors such as Insitor, Samunnati and others. 

Both Insitor and Samunnati fully exited the company through this round, while some employees who held shares or stock options under the company’s ESOP also sold a portion of their holdings.

However, Agarwal did not disclose the company’s post-money valuation following the round.

He added that the fresh capital will be utilised to diversify Farmley’s offerings into new categories, including healthy desserts and on-the-go snacks. A portion of the funds will also be directed toward scaling operations and deepening the brand’s presence in the dried fruits and nuts segment.

Further, Farmley plans to use the investment for capital expenditure, doubling down on quick commerce expansion and expanding its offline distribution network, especially in rural regions across India.

Founded in 2017 by Abhishek Agarwal and Akash Sharma, Farmley sells dry fruits and nuts in different flavours and snacking formats such as roasted peri peri makhanas, thai chilli cashews and date bites, among others. The brand sells these via its online platform as well as ecommerce and quick commerce channels like Amazon, Flipkart, Blinkit, Zepto, Instamart and Big Basket.

With this, the Delhi NCR-based startup has raised $54.7 Mn in total funding till date. 

On the financial front, Farmley said its revenue jumped to INR 370 Cr in FY25, up from INR 230.65 Cr in FY24. It also claimed to have achieved positive EBITDA in FY25, while it incurred a standalone loss of INR 26.49 Cr in FY24.

The development comes at a time when the healthy snacking segment in the D2C space has been gaining traction among consumers on the back of a shift in their lifestyle and consumption habits. Investors are thus betting on this growing market opportunity to back startups that offer healthier alternatives for consumer cravings.

The Indian snacks market is projected to grow to INR 95,521.8 Cr by 2032, based on a report by IMARC Group.

In April alone, D2C snack brands such as Eat Better, Let’s Try and phab have raised capital to expand their distribution channels and strengthen their market presence.