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Full-stack nuts and dry fruits brand Farmley raises $6m in Series A funding
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Tuesday, 09 August, 2022, 12 : 00 PM [IST]
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Our Bureau, New Delhi
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Farmley, a full-stack nuts & dry fruits brand, has raised US$6 million in Series A funding. The round was led by DSG Consumer Partners and Alkemi Growth Capital alongside existing investors Omnivore, Insitor Partners, and other angel investors.
The startup was founded in 2017 by IIT graduates Akash Sharma and Abhishek Agarwal. It has built deep backend linkages over the years with domestic as well as international farming communities to source the highest quality of nuts and dry fruits. With deep customer insights and years of R&D, it has also developed five unique processing units in India. This has enabled Farmley to produce premium quality nuts and dry fruits, and to provide them at accessible price points to its consumers. The company has raised a prior seed round of US$2 million in 2020 from Omnivore and Insitor.
Staying true to its full-stack core, the company has an assortment of over 100 products derived from nuts and dry fruits. From trail mixes to 100% maida-free pasta made from makhana to roasted munchies made from nuts, their product assortment is unique, delicious, and nutrition-packed.
In the last 18 months, the company has scaled its revenues by 10x to become one of the leading players in this category. They have omnichannel distribution, and their products are available on all leading e-commerce and quick commerce platforms alongside retail stores across the top 20 Indian cities. They are also available in select international markets including the US, Middle East, and Australia. The company plans to utilise the funds for channel expansion, brand building, and team building.
Akash Sharma & Abhishek Agarwal, co-founders of Farmley, said, “Farmley is a consumer-centric brand at heart. We are here to become a globally loved brand, born in India and being consumer-first in our approach is the only way to achieve it. Nuts & dry fruits have become synonymous with festivities, good health, and great taste. We aim to blend them into the various eating occasions throughout the day and make each moment special and memorable.”
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