CosmicTaco

Hangyo Ice Creams Raises $25 Million from Faering Capital

CosmicTaco · 2024-08-22T13:35:47.733583+05:30

- Hangyo, a popular ice-cream brand in South India, has raised $25 million from Faering Capital, marking its largest institutional round in over 20 years. - The funds will be used to enhance production capabilities, accelerate new product development, and expand its presence across key markets in the south. - Hangyo founder Pradeep Pai highlighted the strategic value and financial support brought by the investment, which will drive growth and reinforce market leadership. - The company joins other ice-cream brands like Hocco, Go Zero, and NIC in raising capital to scale operations, benefiting from the quick commerce boom. - Hangyo has a strong presence in several states with over 350 distributors and 30,000 retail touchpoints, and a production capacity of 1.2 lakh litres a day. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/hangyo-ice-creams-raises-25-million-from-faering-capital-12803683.html)

Hangyo, a popular ice-cream brand in South India, has raised $25 million from Faering Capital, marking its largest institutional round in over 20 years.
The funds will be used to enhance production capabilities, accelerate new product development, and expand its presence across key markets in the south.
Hangyo founder Pradeep Pai highlighted the strategic value and financial support brought by the investment, which will drive growth and reinforce market leadership.
The company joins other ice-cream brands like Hocco, Go Zero, and NIC in raising capital to scale operations, benefiting from the quick commerce boom.
Hangyo has a strong presence in several states with over 350 distributors and 30,000 retail touchpoints, and a production capacity of 1.2 lakh litres a day.

Source: Moneycontrol