Snacking brand Farmley has raised $6.7 million, about Rs 56 crore, in a funding round led by BC Jindal Group, according to PTI report.
Existing investors DSG Consumer Partners, Omnivore and Alkemi Partners also participated in the funding round.
Farmley cofounder Akash Sharma said the funds raised will be utilised in innovation, expanding distribution channel 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 development of 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 rise,” the representative said.
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