INDIA | Farmley, a rapidly growing healthy snacking brand in India, announced that it has completed a USD 42 million Series C fundraise led by L Catterton, a leading global consumer-focused investment firm.
Existing shareholders, such as DSG Consumer Partners, also participated in the fundraising. The investment positioned Farmley to scale further in the briskly evolving dried fruits and nuts segment of the country’s healthy snacking market.
The dried fruits and nuts segment of India’s healthy snacking market is expected to expand by around 14 percent annually over the next six years to cross USD 8.5 billion by 2031, driven by secular tailwinds.
These include consumers’ increasing propensity to swap unhealthy snacks for healthier ones and eat them not only when they feel peckish, but also to meet other needs such as post-workout nourishment and small meal replacement.
Consumers are also increasingly opting for branded snacks that offer consistent quality via organised sales channels with better hygiene standards than unorganised ones, just like they have in other packaged food categories.
“We are committed to reimagining snacking for the modern Indian consumer, transforming what was once considered mere convenience food into a wholesome, delightful experience,” said Farmley co-founders Akash Sharma and Abhishek Agarwal.
“We are thrilled to partner with L Catterton as its 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.”
Farmley has become the fastest-growing brand in its category by offering a diverse portfolio of wholesome, better-for-you snacks via its omnichannel distribution network. Underscoring its growing appeal, its revenue has risen by approximately 55 percent annually over the past two years, reaching around USD 41 million in FY25.
“Farmley has been able to astutely capitalise on long-term consumer trends with its better-for-you positioning and high-quality products, which resonate with customers,” said L Catterton Partner and Head of India Anjana Sasidharan.
“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. We are excited to collaborate with the talented team at Farmley to further realise the company’s potential by drawing on our experience in building multiple food brands across the world.”
L Catterton has significant experience building brands in the packaged food sector. Current and past investments in the space include Cholula Hot Sauce, Ferrara Candy Company, Goodles, Kettle Foods, Kodiak, Little Moons, NotCo, Planted, and Plum Organics.
More global news here
