Full-stack nuts and dry fruits startup Farmley has raised $6 million in Series A funding round from DSG Consumer Partners and Alkemi Growth Capital, alongside existing investors Omnivore, Insitor Partners, and other angel investors.
The startup plans to use the funds for channel expansion, brand building and team building.
Noida-based Farmley was founded in 2017 by IIT graduates Akash Sharma and Abhishek Agarwal, It has worked on building deep backend linkages with domestic as well as international farming communities to source high quality nuts and dry fruits.
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With deep customer insights and years of R&D, it has also developed five processing units in India to enable the startup to produce premium quality Nuts and Dry Fruits and made available to consumers at accessible price points.
The startup has an assortment of over 100 products derived from nuts and dry fruits.
“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 and 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”, said, Akash Sharma and Abhishek Agarwal, Co-founders of Farmley.
The startup has increased its revenue by 10X in the last 18 months. It has a ubiquitous distribution, and its products are available across all e-commerce and commerce platforms along with retail stores in 20 Indian cities.
The startup is also available in select international markets including the US, Middle East and Australia.
“This segment is large and the unorganised market makes up 95 percent of the market. The products from the unorganised market suffer from quality, hygiene, and adulteration issues. The full backward integration at Farmley ensures premium quality produce and innovative product launches such as India’s first makhana pasta. The company is on a strong growth trajectory and the founders have built a stellar team with laser-focus on customer pain points”, said, Hariharan Premkumar, Head of India at DSG Consumer Partners.
“Consumers want quality products that are healthy, tasty, and nutritious. The category is large with significant opportunities for more organized brands. Farmley is one of the fastest-growing brands in this segment and the team at the helm has grown the company to an impressive scale while building a sustainable supply chain,” said, Dr Mansi Aggarwal, Partner at Alkemi Growth Capital.
Farmley is the new leading brand of dryfruits , nuts and seeds available PAN India.
Their stellar products are high on quality, nutrition and affordability for daily consumption, festive times etc. Not only are thier products rich in vitamins, minerals, macro and micronutrients, they are packaged with utmost quality in the most hygienic and unadulterated ways with love.
They enable to stay as fit as a fiddle, free of ailments, to live a healthy life.