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Healthy snacking brand Farmley has raised $6.7 million in a pre-Series B funding round led by BC Jindal Group, with participation from existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners.
The investment marks a pivotal step in Farmley's journey towards expanding its market reach and enhancing its product offerings.
Focusing on offline retail touchpoints
With this round of funding, Farmley plans to deepen its presence across offline retail touchpoints, diversify its distribution channels, and intensify its brand-building efforts. According to the startup, this strategic allocation of resources aims to fuel product innovation and broaden the brand's consumer base.
Akash Sharma, co-founder, Farmley said, “This new round of investment brings us a step closer to our mission of becoming a household brand and contributing to a healthier world. These funds will play a pivotal role in fuelling our product innovation efforts, in diversifying distribution channels, and in amplifying the brand-building efforts. We would like to make people’s snacking experiences more wholesome by operating on consumer-first principles.”
Farmley's growth
Since its inception in 2017, Farmley has shown remarkable growth, achieving a 400% increase over the last two years and crossing Rs 300 crore in Annual Recurring Revenue (ARR). It claims to have turned EBITDA positive.
With a portfolio of over 100 products, including innovative snacking options, The startup said it has established a strong presence in e-commerce and retail outlets across top Indian cities and international markets like the US, the Middle East, and Australia.
Providing unadulterated products
The startup said it is committed to providing unadulterated products backed by direct connections with over 5,000 farmers and producers. Recently, It onboarded former Indian Cricket Captain Rahul Dravid as its brand ambassador.
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