Farmley (TechnifyBiz), a snacking business has secured $6.7 million to invest in innovation, expanding distribution channels, and brand-building efforts.
“These funds will play a pivotal role in fueling our product innovation efforts, in diversifying distribution channels and in amplifying the brand-building efforts Sharma revealed to a news agency. We would like to make people’s snacking experiences more wholesome by operating on consumer-first principles,” Farmley Co-founder Akash Sharma revealed.
He stated the company posted a revenue of around Rs 150 crore in the financial year 2023 and has now recorded an annual recurring revenue of Rs 300 crore.
Farmley to invest in innovation, and broadening its brand portfolio
The brand recently signed up 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 firm official said.
The funding round was led by BC Jindal Group. Existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners also participated in the funding round.
