Total amount raised
$14.8 Millions
Latest funding date
12/1/2023
Location
Farmley has successfully raised funds through multiple rounds, with its latest being a Series B. The company specializes in offering a range of premium dry fruits and nuts, focusing on healthy snacking options.
Keep reading to explore the details of Farmley's funding journey and the investors who believe in its mission to promote nutritious eating habits.
What Is Farmley?
Farmley, founded in 2017, is a Noida-based company specializing in premium dry fruits and nuts. The company was established by Abhishek Agarwal, Akash Sharma, and Samarth Taneja. With a team of 101-250 employees, Farmley focuses on offering a variety of healthy snacking options.
How Much Funding Has Farmley Raised?
- Pre-Seed Round
- Amount Raised: $10.6K
- Date: February 2018
- Lead Investors: Indigram Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial market entry.
- Seed Round
- Amount Raised: $2M
- Date: January 2020
- Lead Investors: Insitor Partners, Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and market entry.
- Series A
- Amount Raised: $6M
- Date: August 2022
- Lead Investors: Alkemi Venture Partners, DSG Consumer Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expansion efforts.
- Series B
- Amount Raised: ₹560M (approximately $6.7M)
- Date: December 2023
- Lead Investors: Jindal Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen brand-building initiatives and expand presence across offline retail touchpoints.
Total Amount Raised: $14.71M
Current Valuation: Not publicly disclosed
Key Investors
- BC Jindal Group
- Details: BC Jindal Group is a leading industrial conglomerate in India with diverse business interests. The group is known for its investments in sectors such as packaging films, steel pipes, and thermal power generation.
- Investment Focus Areas: Packaging, steel, power generation.
- Notable Investments: Not publicly disclosed.
- DSG Consumer Partners
- Details: DSG Consumer Partners is a venture capital firm that invests in early-stage consumer businesses in India and Southeast Asia. The firm focuses on building a portfolio of brands in the healthy snacking category.
- Investment Focus Areas: Food and beverage, personal care, lifestyle.
- Notable Investments: Veeba, Epigamia, Raw Pressery.
- Omnivore
- Details: Omnivore is a venture capital firm that funds entrepreneurs building the future of agriculture and food systems. The firm focuses on startups that enhance agricultural productivity and sustainability.
- Investment Focus Areas: Agriculture, food systems, agri-tech.
- Notable Investments: DeHaat, Stellapps, AgNext.
- Alkemi Partners
- Details: Alkemi Partners is a private equity firm that invests in healthcare and consumer sectors. The firm focuses on companies that promote healthy living and well-being.
- Investment Focus Areas: Healthcare, consumer sectors, wellness.
- Notable Investments: HealthKart, Bira 91.
- Insitor Partners
- Details: Insitor Partners is an impact investment firm that supports early-stage businesses in South and Southeast Asia. The firm aims to create sustainable social impact through its investments.
- Investment Focus Areas: Healthcare, education, affordable housing.
- Notable Investments: Not publicly disclosed.
What's Next for Farmley?
Farmley is poised to capitalize on the growing demand for healthy snacks by expanding its offline retail presence and leveraging its brand ambassador, Rahul Dravid, to enhance brand visibility. With over 100 products available in more than 10,000 retail locations and significant revenue growth, the company is well-positioned to deepen its market reach and diversify its distribution channels.
Future fundraising opportunities appear promising, given Farmley's rapid growth and positive EBITDA. The company may attract further investment rounds to support its expansion and product innovation efforts. However, challenges such as maintaining supply chain efficiency, ensuring product quality, and navigating competition from established brands like Happilo and True Elements could pose hurdles along the way.
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