Noida-based snacking brand Farmley has raised $40 million in its Series C funding round, signaling its ambitious plans to dominate India’s growing healthy snacking and dry fruits market. The round saw participation from L Catterton, a global consumer-focused private equity firm that led the investment, with support from existing backers DSG Consumer Partners and BC Jindal. The latest fundraise combined primary and secondary capital, reflecting both growth intent and investor confidence.
With this capital infusion, Farmley aims to scale its presence in the dried fruits and nuts segment, strengthen its backend infrastructure, and increase its distribution network across India and global markets.
From Flavored Makhanas to Multi-Category Growth
Founded with the vision of creating nutritious, flavorful, and accessible snack options, Farmley began its journey with flavored makhanas—also known as fox nuts or lotus seeds. It has since evolved into a multi-category brand, now offering trail mixes, date bites, roasted seeds, and other “better-for-you” snack variants.
In a market increasingly driven by health-conscious choices, Farmley identified a clear opportunity. By emphasizing clean-label ingredients, minimal processing, and taste innovation, the company positioned itself at the crossroads of health and indulgence.
This positioning struck a chord with Indian consumers. In the last two years, Farmley recorded a 55% growth in revenue, reaching ₹370 crore in FY25, while maintaining profitability—a rare feat in the competitive fast-moving consumer goods (FMCG) startup landscape.
Why Investors Are Betting Big on Farmley
L Catterton, which led the round, brings deep expertise in consumer brands, having backed household names like Owens & Minor, FabIndia, and Mamaearth. Anjana Sasidharan, Partner and Head of India at L Catterton, outlined why the firm chose Farmley.
She said, “Farmley has astutely capitalized 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.”
These elements—product innovation, backend strength, and a sharp distribution strategy—have helped Farmley carve a niche in an otherwise fragmented space.
Breaking Down the Growth Strategy
Farmley doesn’t operate like a traditional FMCG company. Instead, it has built a full-stack supply chain from farm to consumer. The company sources directly from farmers and processing units, eliminating layers of intermediaries. This approach ensures better quality control, cost efficiencies, and traceability—three aspects that significantly enhance consumer trust.
The brand’s product development team rapidly prototypes and launches new offerings by studying micro-trends in consumer demand. Unlike legacy brands that take months to introduce new products, Farmley launches seasonal and functional variants within weeks. This agility has allowed it to stay relevant across urban and tier-2 markets, both online and offline.
Farmley also maintains strategic partnerships with leading e-commerce platforms, modern retail chains, and quick commerce players like BigBasket, Blinkit, Amazon, and Reliance Retail. These alliances have played a pivotal role in its scale-up story, ensuring rapid visibility and velocity in the shelf-space battle.
Tapping into a Booming Market
India’s dried fruits and healthy snacking industry is undergoing a shift. Urban consumers increasingly seek clean-label, protein-rich, fiber-packed alternatives to traditional snacks. The dried fruits, seeds, and nuts market in India—estimated to be over $7 billion—is growing at a CAGR of 9–10%.
Farmley has positioned itself to ride this wave. Unlike conventional players that dominate only the unorganized or single-product space, Farmley offers branded, value-added products that appeal to evolving preferences. Its flavored makhanas, for instance, feature options like peri-peri, cheddar cheese, and Himalayan salt, which blend health benefits with culinary delight.
Moreover, Farmley’s new launch in the date bites and seed clusters category caters to those seeking natural energy sources and sugar alternatives. With increasing awareness around lifestyle disorders like diabetes and obesity, Farmley’s shift towards functional snacking represents a timely market move.
Revenue and Profitability: A Rare Combo
In a time when many consumer startups burn capital to gain market share, Farmley has demonstrated disciplined financial execution. The company reported ₹370 crore in revenue for FY25, up 55% from its FY23 figures. More impressively, it stayed profitable through this growth phase.
The company’s integrated model—combining procurement, processing, packaging, and distribution—kept its margins healthy. Its investments in automation, digital warehousing, and direct distribution helped reduce logistics overheads and pilferage.
Farmley also smartly leveraged content-led marketing, influencer engagement, and performance advertising to increase brand recall without inflating customer acquisition costs.
What the Series C Means for Farmley’s Next Phase
The $40 million Series C funding will serve as growth fuel across three major fronts:
- Product Innovation: Farmley plans to expand its R&D team and invest in food science to develop next-gen functional snacks that combine nutrition with taste.
- Supply Chain Expansion: The company aims to deepen its backend linkages with farmers and processing partners in regions like Bihar, Maharashtra, and Rajasthan, known for high-quality dry fruits and seeds.
- Retail and Global Reach: With the domestic market growing, Farmley also eyes international markets, particularly the Gulf, Southeast Asia, and the U.S., where Indian-origin health foods enjoy strong diaspora-led demand.
Additionally, the company will enhance its technology stack, using AI and predictive analytics to improve demand forecasting, inventory optimization, and personalized consumer engagement.
A Homegrown Challenger in the Global Snacking Arena
With brands like Haldiram’s, Too Yumm, and Yogabar already occupying space in India’s snacking consciousness, Farmley now wants to transition from a category player to a brand of choice across multiple snacking segments. Its ability to remain nimble, profitable, and consumer-centric makes it a formidable challenger.
Unlike startups that chase valuations, Farmley has consistently focused on value creation, both for its customers and investors. By rooting itself in Indian agricultural strength and marrying it with global FMCG standards, Farmley aims to put Indian snacking on the world map.
As the company enters its next growth orbit with L Catterton and other seasoned investors, its journey showcases how purpose-led consumer brands can scale in India without sacrificing sustainability, quality, or profitability.