Hangyo Ice Cream Boosts Growth and Expansion with Rs 211 Crore from Faering Capital
Hangyo Ice Cream Raises Rs 211 Crore for Expansion
Mangaluru-based Hangyo Ice Cream has successfully raised about Rs 211 crore from the private equity firm Faering Capital. This funding will significantly boost production capabilities, accelerate new product development, and extend its market presence, primarily in southern India. Managing Director Pradeep Pai stated, “This investment will take our business to the next level through innovation in new product development, market expansion, and advertising.”
Strategic Use of Funds
- Enhancing manufacturing capabilities through new facilities.
- Investing in marketing and advertising initiatives.
- Expanding product lines and market reach.
Market Presence and Future Goals
Founded in 2003, Hangyo Ice Cream operates two manufacturing facilities in Karnataka, producing 120,000 litres of ice cream daily. With revenue of Rs 300 crore in 2023-24, the company aims to reach Rs 700 crore within four years, with half of its sales coming from Karnataka.
Industry Landscape
India’s ice cream industry, valued at approximately $5 billion, is witnessing a surge in new-age brands like Hangyo, competing with legacy brands such as Amul and Kwality Walls. Emerging players are reshaping the market by capturing new customer segments.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.