PE Fund Investments
​​Ice cream seller Walko Food raises $11-M led by Jungle Ventures
Mumbai-based Walko Food, which owns the ice cream brand NIC, has raised USD 11 million led by Jungle Ventures. The company will use the fresh capital to expand its production capabilities and enhance its product offerings, and distribution reach. Besides this, it is also looking to invest in its technology systems. Walko Food was founded in 2012 by Jeetendra Bhandari, Sanjiv Shah, and Raj Bhandari with a focus on frozen dessert products and launched the ice cream brand NIC in 2015. The firm had previously raised USD 8.65 million, including USD 6.1 million led by J M Financial in June 2021.
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