Hangyo Ice Cream Scoops Up $25 Million for Sweet Expansion
August 23, 2024, 11:24 pm
Location: India, Karnataka, Govanaki
Employees: 51-200
Founded date: 2002
Total raised: $5M
In the bustling world of ice cream, Hangyo Ice Creams is making waves. The Mangaluru-based brand has just secured a hefty $25 million investment from Faering Capital. This infusion of capital is not just a financial boost; it’s a ticket to a broader horizon. Hangyo aims to enhance its production capabilities, innovate its product line, and extend its reach across South India.
Hangyo is no stranger to the ice cream scene. Founded in 2003 by Pradeep Pai, the brand has carved a niche for itself in a competitive market. With a diverse range of offerings—from kulfis to sorbets—Hangyo has captured the hearts of ice cream lovers. The company currently operates with over 350 distributors and boasts more than 30,000 retail touchpoints. Its presence is strong in states like Karnataka, Tamil Nadu, Kerala, Goa, Andhra Pradesh, Telangana, and Maharashtra.
The investment from Faering Capital is a strategic move. It’s not just about the money; it’s about the expertise that comes with it. Faering Capital, with a track record of successful investments, brings a wealth of experience to the table. This partnership is poised to drive Hangyo’s growth trajectory, reinforcing its position as a market leader.
The ice cream industry in India is on the rise. As consumer spending increases, so does the appetite for premium ice cream products. Hangyo is well-positioned to capitalize on this trend. The brand’s commitment to quality and innovation has already set it apart from competitors. With the new funds, Hangyo plans to ramp up production, ensuring that its ice cream reaches even more customers.
Currently, Hangyo produces an impressive 1.2 lakh liters of ice cream daily across its two manufacturing facilities in Karnataka. This scale of production is crucial as the brand looks to meet growing demand. The funds will also be directed towards enhancing manufacturing processes, ensuring that quality remains paramount as production scales up.
The ice cream market is becoming increasingly competitive. Recently, other brands have also secured significant funding. For instance, Ahmedabad-based Hocco Ice Cream raised $12 million, while NIC garnered $20 million from Jungle Ventures. This trend highlights the lucrative nature of the ice cream business in India. Investors are keen to tap into the sweet potential of this market.
Faering Capital’s investment in Hangyo marks its fifth investment from its $346 million Fund 3. The firm has a history of backing consumer brands, and its stake in Hangyo now stands at 24%. This strategic investment aligns with Faering’s vision of supporting companies that demonstrate growth potential and market leadership.
The partnership is a win-win. Hangyo gains not only financial support but also strategic guidance. This collaboration is expected to enhance product development, allowing Hangyo to introduce new flavors and formats that cater to evolving consumer preferences. The ice cream landscape is shifting, and brands must adapt to stay relevant.
As Hangyo embarks on this new chapter, the focus will be on expanding its footprint. South India is just the beginning. The brand has its sights set on broader national distribution. With the right investment and strategy, Hangyo could soon become a household name across India.
The ice cream industry is more than just a summer treat; it’s a growing sector with immense potential. As consumers become more discerning, they seek quality and variety. Hangyo’s commitment to high-quality products positions it well in this evolving market. The brand’s ability to innovate will be key to its success.
In conclusion, Hangyo Ice Creams is poised for a sweet future. With a $25 million investment from Faering Capital, the brand is ready to expand its production capabilities and enhance its product offerings. The ice cream market in India is ripe for growth, and Hangyo is set to take a big scoop. As it continues to delight customers with its diverse range of flavors, the brand is not just selling ice cream; it’s creating a legacy. The partnership with Faering Capital is a significant step in this journey, promising to elevate Hangyo to new heights in the competitive world of ice cream.
Hangyo is no stranger to the ice cream scene. Founded in 2003 by Pradeep Pai, the brand has carved a niche for itself in a competitive market. With a diverse range of offerings—from kulfis to sorbets—Hangyo has captured the hearts of ice cream lovers. The company currently operates with over 350 distributors and boasts more than 30,000 retail touchpoints. Its presence is strong in states like Karnataka, Tamil Nadu, Kerala, Goa, Andhra Pradesh, Telangana, and Maharashtra.
The investment from Faering Capital is a strategic move. It’s not just about the money; it’s about the expertise that comes with it. Faering Capital, with a track record of successful investments, brings a wealth of experience to the table. This partnership is poised to drive Hangyo’s growth trajectory, reinforcing its position as a market leader.
The ice cream industry in India is on the rise. As consumer spending increases, so does the appetite for premium ice cream products. Hangyo is well-positioned to capitalize on this trend. The brand’s commitment to quality and innovation has already set it apart from competitors. With the new funds, Hangyo plans to ramp up production, ensuring that its ice cream reaches even more customers.
Currently, Hangyo produces an impressive 1.2 lakh liters of ice cream daily across its two manufacturing facilities in Karnataka. This scale of production is crucial as the brand looks to meet growing demand. The funds will also be directed towards enhancing manufacturing processes, ensuring that quality remains paramount as production scales up.
The ice cream market is becoming increasingly competitive. Recently, other brands have also secured significant funding. For instance, Ahmedabad-based Hocco Ice Cream raised $12 million, while NIC garnered $20 million from Jungle Ventures. This trend highlights the lucrative nature of the ice cream business in India. Investors are keen to tap into the sweet potential of this market.
Faering Capital’s investment in Hangyo marks its fifth investment from its $346 million Fund 3. The firm has a history of backing consumer brands, and its stake in Hangyo now stands at 24%. This strategic investment aligns with Faering’s vision of supporting companies that demonstrate growth potential and market leadership.
The partnership is a win-win. Hangyo gains not only financial support but also strategic guidance. This collaboration is expected to enhance product development, allowing Hangyo to introduce new flavors and formats that cater to evolving consumer preferences. The ice cream landscape is shifting, and brands must adapt to stay relevant.
As Hangyo embarks on this new chapter, the focus will be on expanding its footprint. South India is just the beginning. The brand has its sights set on broader national distribution. With the right investment and strategy, Hangyo could soon become a household name across India.
The ice cream industry is more than just a summer treat; it’s a growing sector with immense potential. As consumers become more discerning, they seek quality and variety. Hangyo’s commitment to high-quality products positions it well in this evolving market. The brand’s ability to innovate will be key to its success.
In conclusion, Hangyo Ice Creams is poised for a sweet future. With a $25 million investment from Faering Capital, the brand is ready to expand its production capabilities and enhance its product offerings. The ice cream market in India is ripe for growth, and Hangyo is set to take a big scoop. As it continues to delight customers with its diverse range of flavors, the brand is not just selling ice cream; it’s creating a legacy. The partnership with Faering Capital is a significant step in this journey, promising to elevate Hangyo to new heights in the competitive world of ice cream.