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Jungle Ventures invests USD 20 mln to expand Walko's production capacity

Wednesday, 21 Feb 2024
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Jungle Ventures has invested USD 20 million in Walko Food, an ice-cream brand and quick-service restaurant company. The funds will be utilised to expand Walko's production capabilities, enhance its product offerings, and diversify with the mass-market ice-cream brand- Yummo.

Singapore-based venture capital firm is focussed on companies in the early growth stage in India and Southeast Asia. This is its second investment in Walko Food in less than 12 months.

Walko Food, a Pune ice-cream company valued at Rs 1,300 crore, has top grossing brands such as NIC and Grameen Kulfi. Further, it has a smaller offline presence through modern trade and ice-cream parlours.

Since its last funding round with Jungle Ventures in May 2023, Walko Food has introduced Yummo, an ice-cream brand created for the Indian mass retail market, tapping into a USD three billion opportunity.

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