Farmley raises Rs 56 Cr from BC Jindal Group, others; hits Rs 300 Cr ARR
Farmley Co-founder Akash Sharma told PTI that the company has raised $6.7 million, which will be utilised in innovation, expanding distribution channels, and brand-building efforts.
Snacking brand has raised $6.7 million, about Rs 56 crore, in a funding round led by BC Jindal Group, a top company official said. Existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners also participated in the funding round.
Farmley Co-founder Akash Sharma told PTI that the company has raised $6.7 million, which will be utilised in innovation, expanding distribution channels, and brand-building efforts.
"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," Sharma said.
He said the company registered a revenue of around Rs 150 crore in the financial year 2023 and has now touched an annual recurring revenue of Rs 300 crore.
The brand recently onboarded Indian cricket team coach and former captain Rahul Dravid as its brand ambassador. Founded in 2017, Sharma said Farmley has grown by more than 400% over the last two years.
Farmley has over 100 products, including everyday dry-fruit essentials, trail mixes, natural dessert range derived from dry fruits and extruded munchies made from makhana flour.
A BC Jindal Group representative said Farmley is re-imagining India's snacking habit with a focus on health and wellness through the development of a healthy snacking segment.
"We believe Farmley will emerge as India's leading healthy snacking and dry fruit company through its innovative product positioning and go-to-market strategy in this post-pandemic world where awareness towards healthy snacking is on the rise," the representative said.
Edited by Suman Singh