India-based snacks company Farmley has raised $42m in a Series C funding round led by private-equity firm L Catterton.
Current investors, including DSG Consumer Partners, also took part in the financing.
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The investment “positions Farmley to further scale the briskly-evolving dried fruits and nuts segment of the country’s healthy snacking market”, according to a joint statement from L Catterton and Farmley.
Farmley, established in 2017 by Akash Sharma and Abhishek Agarwal, provides a variety of better-for-you snacking options.
Its product line-up includes flavoured foxnuts, also known as lotus seeds, trail mixes, date bites, and roasted nuts, catering to the health-conscious consumer.
The co-founders said L Catterton’s “differentiated combination of global and local insights into our industry, as well as proven operating capabilities will be instrumental as we continue revolutionising the healthy snacking landscape in India”.
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By GlobalDataL 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.
“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 company’s revenue has grown by approximately 55% annually over the past two years, reaching around $41m in FY25, according to the statement.
Looking ahead, Sharma and Agarwal plan to focus on “penetrating untapped regional markets, developing cutting-edge product formulations”, and “leveraging advanced food technology to create snacks that truly nourish both the body and the palate”.
L Catterton’s other investments in the packaged food industry include Little Moons, Ferrara Candy Company and Goodles.
