Sunday, July 14, 2024

Jungle Ventures Expands Investment in India’s Ice Cream Industry Growth

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In a sweet twist of fate, Singapore-based VC firm Jungle Ventures has decided to scoop up another $20 million to invest in Walko Food, India’s fastest-growing ice cream brand. This isn’t their first rodeo with Walko; in fact, it marks their second investment in less than a year!

Since their last funding injection back in May 2023, India’s ice cream brand Walko Food has been busy churning out new flavors and ideas. Their latest creation, Yummo, has been making waves in the ice cream scene, tapping into a lucrative $3 billion market.

With this fresh infusion of capital, Walko Food is gearing up to expand its product range and reach even more ice cream lovers across India.

Sanjiv Shah, Director of Walko Food Company, couldn’t be more thrilled about the partnership with Jungle Ventures. He sees it as a vote of confidence in Walko’s team and their ambitious vision. With brands like NIC, Grameen Kulfi, and Cream Pot already under their belt, Walko is ready to take the Indian ice cream market by storm.

And they’re not the only ones excited about the potential of the Indian ice cream industry. Arpit Beri, Partner at Jungle Ventures, recognizes the massive opportunity that Walko is tapping into. Ice cream has become a beloved treat for Indian consumers, signaling a shift in dessert preferences from traditional sweets to cooler indulgences.

For Jungle Ventures, this investment is part of their broader strategy to support early to growth-stage companies in Southeast Asia and India. With Walko Food leading the charge in the ice cream revolution, the future looks deliciously promising.

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