India-based snacks company Farmley has secured $42 million in a Series C funding round led by private equity firm L Catterton. This significant investment aims to enhance the company’s position within the increasingly competitive food and beverage industry trends, particularly in the realm of healthy snacking.
Current investors, including DSG Consumer Partners, participated in the financing, underscoring the growing confidence in Farmley’s business model. This investment will enable Farmley to capitalize on the rapidly evolving dried fruits and nuts segment of the country’s food and drink consumer trends, according to a joint statement from L Catterton and Farmley.
Founded in 2017 by Akash Sharma and Abhishek Agarwal, Farmley offers a diverse range of healthier snacking alternatives. Their product lineup features flavored foxnuts, trail mixes, date bites, and roasted nuts, designed specifically for the health-conscious consumer.
The co-founders expressed their optimism, stating that 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.”
L Catterton’s partner and head of India, Anjana Sasidharan, highlighted Farmley’s strategic advantages: “Farmley has been able to astutely capitalize 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 reported an impressive revenue growth of approximately 55% annually over the past two years, reaching around $41 million in FY25, demonstrating its effectiveness in the food and drink business.
Looking ahead, Sharma and Agarwal intend to focus on penetrating untapped regional markets, developing innovative product formulations, and leveraging advanced food technology to create snacks that nourish both the body and the palate.
Additionally, L Catterton has invested in various companies within the packaged food industry, such as Little Moons, Ferrara Candy Company, and Goodles, further indicating the firm’s commitment to investing in promising food and drink consumer trends.
