D2C snacking brand Farmley has raised up $6.7 million( Rs 56 crore) funding in a pre-series B round led by BC Jindal Group. The funding round also saw participation of existing investors like DSG Consumer Partners, Omnivore and Alkemi Partners.
The company has marked a revenue of Rs 150 Cr in the FY 2023 and has registered an annual recurring revenue(ARR) of Rs 300 Cr. Notably, Farmley witnessed 400 per cent growth in the last two years which made the brand EBITDA positive.
Latest Funds to utilise in innovation, brand building
According to an official statement given to PTI by the co-founder Akash Sharma the latest funding would be utilised in promoting innovation strategies, expanding distribution channels and broadening brand building efforts. He also added that the brand is working diligently to make people’s snacking experience more wholesome by retaining their consumers first principle.
The brand has also joined former Cricket Captain Rahul Dravid as its brand ambassador. In the previous year, Farmley had secured $6 Mn funding in a Series A round led by DSG Consumer Partners and Alkemi Growth Capital.
Venture of healthy snacking habit of Farmley
Founded in 2017 jointly by Akash Sharma and Abhishek Agarwal , Farmley offers a wide range of variety of dry fruits and nuts in different flavours and continues to surprise tastebuds of its customers by catering products such as roasted peri peri makhanas, thai chilli cashews and date bites.
Otherwise, Farmley offers healthier options like dry-fruit mixes, trail mixes, natural dessert concoction made from dry fruits and go-to munchies derived from makhana flour.
The Delhi based startup sells their products through e-commerce & online quick selling platforms like Amazon, Flipkart, Blinkit, Zepto, Instamart and BigBasket. It is also available offline across more than 10,000 retail outlets in the top 50 Indian cities.
Farmley would soon emerge as India’s leading snacking brand through incorporating its excellent product positioning and market strategy, as claimed by a representative of BC Jindal group.
Category: Startup
Tags: Farmley, D2C, Snacking, Funding, Brand
