Farmley looks to raise $50-75 million, taps KPMG

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Dry-fruit and nut snacking brand Farmley is looking to raise about $50-75 million and has appointed professional services firm KPMG as its advisors, according to two people familiar with the development.

"Discussions are still at an early stage, but the company is looking to tap investors for fresh capital,” said the first person.

While the specific deployment of the funds was yet to be finalized, the capital would likely be used to support growth, strengthen the brand and expand operations, besides helping offset investment-led losses, according to the first person.

Farmley did not respond to Mint's queries.

The Noida-headquartered company raised $42 million in its Series C funding round in May 2025, led by global consumer-focused private equity firm L Catterton, with participation from existing investor DSG Consumer Partners. The round valued the startup at about $110 million, according to data platform Tracxn.

It has raised nearly $57 million across six funding rounds.

Founded in 2017 by IIT graduates Akash Sharma and Abhishek Agarwal, it began as a business-to-business company sourcing dry fruits and nuts directly from farmers before pivoting to a consumer brand in 2020. It has since expanded into the healthy snacking category with products such as roasted makhanas, flavoured nuts, seeds and date-based snacks, leveraging a farm-to-consumer sourcing model and its own processing network.

Connedit Business Solutions Pvt. Ltd, which operates the Farmley brand, reported a revenue of ₹396.5 crore in FY25, up from ₹230.7 crore a year ago. Its net loss narrowed to 22.6 crore from ₹26.5 crore in FY24, according to filings sourced from the ministry of corporate affairs via Tracxn.

The dry fruits and nuts segment of the healthy snacking market is expected to expand by around 14% annually over the next six years, reaching $8.5 billion by 2031, according to industry estimates.

Investor interest is also growing in the country's healthy snacking market, where branded dry fruit, nut and makhana companies are benefiting from rising demand for convenient, nutritious snacks and the rapid expansion of quick commerce.

Earlier in 2026, Nutraj parent VKC Nuts secured about $40 million from Belgium-based Ackermans & van Haaren (AvH), Singapore-based Venturi Partners and CX Partners to expand its branded dry fruits and nuts business.

Happilo, one of the country's largest healthy snacking brands, raised ₹100 crore (about $13.7 million) from A91 Partners in 2021, followed by a $25 million investment from Motilal Oswal Private Equity in 2022 to fund product expansion, capacity addition and distribution.

Meanwhile, breakfast and healthy foods brand Yoga Bar raised $46 million in a Series B round led by Temasek in 2023, with participation from existing investors Fireside Ventures, Elevation Capital and Survam Partners.

Vaeshnavi reports on the business of consumption from Bengaluru, tracking how India shops, eats, and clicks. As a correspondent with Mint’s consumer economy team, she covers sectors ranging from retail and food and beverage to the rapid rise of quick commerce. She is a 2025 graduate of the Asian College of Journalism’s Bloomberg Business and Finance programme. She joined the Mint newsroom in May 2025 and this is her first stint in journalism. She holds a bachelor's degree in accounting and finance from the University of Madras. Vaeshnavi loves storytelling and breaking down complex jargon and numbers to bring out insightful yet simple-to-understand narratives. She is a Malayali but has spent most of her life living in Chennai. During her school days, she was an avid debater and loved participating in anything that involved holding a mic and standing on stage talking to a room filled with people. A diehard SRK fan, she can be found vibing to Indie music and Bollywood songs in her free time. She is a self-confessed cold coffee addict who w...