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Jungle Ventures invests $20 million more in ice cream maker Walko in larger trend

Economic Times · 1y

Singapore-based venture capital firm, Jungle Ventures, has invested $20 million in Walko Food, an ice-cream brand and quick-service restaurant company. The investment reflects the growing trend of the food-linked startup ecosystem. While venture capital deployments in the food brand space have decreased overall from 2022 to 2023, deal density has consistently risen. In January 2024, the sector saw $97 million invested across seven venture capital deals, with food brands like Country Delight and Wow! Momo Foods raising sizable growth-stage fundings. Walko Food plans to use the capital to expand its operational capacity and diversify its product offerings.