Farmley taps KPMG to raise $50-75M for healthy-snacking push
The Noida-based dry-fruit and makhana D2C brand is seeking $50-75 million, a sharp step up from its $42M Series C at a $110M valuation in May 2025. FY25 revenue hit ₹396.5 crore against a ₹22.6 crore net loss, as investors chase India's branded nut snacking category projected to reach $8.5 billion by 2031.
What happened
Indian dry-fruit and healthy-snacking D2C brand Farmley is raising $50-75 million with KPMG as advisor, targeting growth, brand strength and operations
Key facts
- $50-75 million raise target
- $42 million Series C (May 2025)
- $110 million valuation
- $57 million across six rounds
- revenue ₹396.5 crore FY25
- net loss ₹22.6 crore FY25
- market to reach $8.5 billion by 2031
Why this matters
Farmley's KPMG-led $50-75M raise and intensifying rivalry with Happilo and Yoga Bar make it a consolidation focal point in branded nut snacking—track it as both partnership and acquisition target.
What to watch
- Term sheet leaks confirming valuation range (watch for >$200M vs sub-$150M)
- Monthly burn and gross-margin disclosures during diligence
- Competitor funding announcements from Happilo or Yoga Bar
- Quick-commerce channel share gains for branded nut/makhana
- Any strategic FMCG entry into makhana category
- Farmley to expand SKU range and push into modern trade/quick-commerce to justify valuation step-up
- Increase marketing spend on makhana positioning to defend category leadership vs Happilo
- Rivals (Happilo, Yoga Bar) likely to accelerate their own raises or promotions in response
- KPMG to run a competitive process shortlisting growth PE and crossover funds