Farmley Completes $42 Million Series C Fundraise Led by L Catterton

Transaction positions Farmley to strengthen its foothold in India's burgeoning healthy snacking market by leveraging L Catterton's sector expertise and operating capabilities

DELHI, India, May 12, 2025 /PRNewswire/ -- Farmley, a rapidly-growing healthy snacking brand in India, today announced that it has completed a $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 fundraise. The investments position Farmley to further scale 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% annually over the next six years to cross $8.5 billion by 2031 on the back on secular tailwinds. These include consumers' increasing propensity to swap unhealthy snacks for healthier ones, as well as eat these snacks 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 organized sales channels with better hygiene standards than unorganized ones, just like they have in other packaged food categories.

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. Seeking to redefine the future of healthy snacking through innovative products, the company crafts indulgent yet guilt-free snacks based on the goodness of dried fruits and nuts. These include India's widest range of flavoured makhanas, as well as trail mixes, date bites, and seeds which have garnered market-leading advocacy rates.

Underscoring Farmley's growing appeal, its revenue has risen by approximately 55% annually over the past two years to reach around $41 million in FY25. Significantly, the company has generated such momentum while also achieving profitability, attesting to its financial discipline. Moreover, its unique farm-to-palm model empowers farmers, promotes sustainable practices, and delivers exceptional quality to its customers.

Commenting on the investment, Farmley Co-Founders Akash Sharma and Abhishek Agarwal said, "We are committed to reimagining snacking for the modern Indian consumer, transforming what was once considered mere convenience food into a wholesome delightful experience. 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 revolutionizing the healthy snacking landscape in India. Our roadmap includes penetrating untapped regional markets, developing cutting-edge product formulations that blend nutrition with exceptional taste, and leveraging advanced food technology to create snacks that truly nourish both the body and the palate."

L Catterton Partner and Head of India Anjana Sasidharan added, "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. 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 across the world. 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.

About Farmley

Farmley is a new age healthy snacking brand that is driven by the mission of becoming people's go-to snacking companion that unlocks everyday joyful moments through delightfully healthy products that can be consumed anytime, anywhere, without constraints or guilt. Founded in 2017 and endorsed by former cricket captain Rahul Dravid, Farmley offers a wide range of innovative better-for-you snacking options. From Makhana based munchies to the indulgent Date Bites, from flavourful trail mixes to roasted nuts – Farmley is enabling the discovery of joy, inspiring taste-driven adventures and powering healthier habits one delightful snack at a time. For more information about Farmley, please visit www.farmley.com.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $37 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. The firm's funds have the ability to invest between $5 million and $5 billion, across the capital structure, in well-positioned consumer businesses. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton's team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 300 investments in some of the world's most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.

CONTACTS

Farmley

Adfactors, for Farmley
[email protected]

L Catterton

Julie Hamilton (U.S.)
[email protected]
+1 203 742 5185

Bob Ong (Asia)
[email protected]
+65 6672 7619

Gurunath Birnale (Adfactors, for L Catterton in India)
[email protected]/ [email protected]
+91 98696 57529

SOURCE L Catterton Asia