Farmley, a start-up offering nuts and snacks, has secured $6 million in Series A funding. Singapore-based venture capital firm DSG Consumer Partners and Alkemi Growth Capital led the investment round alongside existing investors like Omnivore, Insitor Partners and other angel investors.
“The full backward integration at Farmley ensures premium quality produce and innovative product launches such as makhana (fox nut) pasta. The company is on a strong growth trajectory and the founders have built a stellar team with a laser focus on customer pain points,” said Hariharan Premkumar, head of India at DSG Consumer Partners.
In 2020, the D2C company raised a seed round of $2 million from Omnivore and Insitor. Delhi-based Farmley announced that it would use the fresh capital to expand its distribution network, bulk up its team and strengthen its brand identity.
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IIT graduates Akash Sharma and Abhishek Agrawal founded Connedit Business Solutions in 2017, which operates the Farmley brand. The duo found that 95 per cent of the substantial nuts and dry fruit snacks segment is unorganised. They started working with select suppliers to procure good quality and hygienic products free of adulteration issues.
Over the years, Farmley has expanded its portfolio to include 100 products derived from nuts and dry fruits. It sells this through commerce and quick commerce platforms and retail outlets across 20 Indian cities. With a business presence in the US, the Middle East, and Australia, the company claimed that its revenues have grown 10x in the past years and half.
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