HUBBALLI: The Hangyo Ice Creams has announced that it has raised $25 million from private equity firm Faering Capital to bolster Hangyo’s growth across India.
Faering Capital’s investment underscores the strong growth trajectory and market potential of Hangyo Ice Creams, it said.
Founded in 2003 by Pai family, Hangyo will use the capital raised from Faering Capital to enhance its production capabilities, accelerate new product development and further expand its presence across its key markets, primarily in southern India.
“We are incredibly pleased to partner with Faering Capital for our next phase of growth,” said Pradeep Pai, Founder and MD of Hangyo Ice Creams. “Their investment brings not only financial support but also a wealth of experience and strategic value to our company,” Dinesh Pai, Founder and Executive Chairman added.
Sameer Shroff, Co-Founder and Managing Director at Faering Capital, said his company is delighted to partner with Hangyo in their next stage of growth.