Farmley taps KPMG to raise $50-75M as healthy snacking heats up
Noida-based dry-fruit and healthy snacking D2C brand Farmley is seeking $50-75 million in fresh capital, appointing KPMG as advisor. The Series D push follows a $42M Series C in May 2025 at a $110M valuation. FY25 revenue hit ₹396.5 crore against a ₹22.6 crore net loss, as investors chase India's ~$8.5B healthy snacking market.
What happened
Indian dry-fruit and healthy snacking D2C brand Farmley is seeking $50-75 million in fresh capital, appointing KPMG as advisor, to fund growth, brand-building
Key facts
- $50-75 million target raise
- $42 million Series C May 2025
- $110 million valuation
- $57 million total raised
- revenue ₹396.5 crore FY25
- net loss ₹22.6 crore FY25
- healthy snacking $8.5 billion by 2031
Why this matters
Farmley's KPMG-advised raise and rapid capital cadence position it as both a consolidation platform and a potential acquisition target in the fragmenting dry-fruit and healthy snacking D2C space.
What to watch
- Announced valuation vs the $110M Series C mark (up-round confirmation)
- Investor identity — financial vs strategic FMCG signals consolidation intent
- FY26 revenue run-rate and any narrowing of net loss
- Quick-commerce/modern-trade shelf share gains as proof of channel scale
- Competitor funding announcements within 90 days
- Farmley ramps marketing and offline distribution (modern trade, quick commerce) to justify Series D scale narrative
- Competitors (Happilo, Nutraj, Yoga Bar, True Elements) accelerate their own raises or channel expansion
- Incumbent FMCG players expand private-label healthy snacking to blunt D2C momentum
- KPMG shops term sheet to growth funds and strategic FMCG corporates simultaneously