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Hangyo Ice Creams raises Rs 211 crore from Faering Capital

Economic Times · 3m

Hangyo Ice Creams raises Rs 211 crore from Faering Capital

Hangyo Ice Creams has raised Rs 211 crore ($28 million) from private equity firm Faering Capital. The Mangaluru-based ice cream company plans to utilize the funds to expand production capabilities, develop new products, and increase its presence in key markets, particularly in southern India. The investment comes as venture capital interest in new-age ice cream brands is growing. Hangyo Ice Creams, established in 2003, operates in several states in India and offers a range of ice cream products through various distribution channels. The Indian ice cream industry is estimated to be worth around $5 billion this year.

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Comments

Prajwal Bhadrannavar

Hangyo is very famous in Mangaluru and Udupi region. They started expanding few years ago. This will surely help them expand aggressively as their product are top notch(I enjoyed their icecreams for 5 years when I was in school)

3 months ago

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