SUMMARY
- Candytoy Corporate secures Rs 110 crore in Series A funding from domestic investors, HNIs, and institutional backers.
- The funds will be used to expand manufacturing capabilities and recruit talent to support rapid growth.
- Candytoy supplies promotional and candy toys to over 40 countries and plans to align with India’s Make in India initiative.
Candytoy Corporate Pvt Ltd, a leading supplier of candy toys and promotional toys to over 40 countries, has successfully raised Rs 110 crore in its Series A funding round. This capital infusion comes from a mix of domestic investors, HNIs, angel investors, and institutional investors.
The funds will primarily be allocated towards expanding manufacturing capabilities to meet growing demand. Additionally, Candytoy plans to invest in acquiring talent to support the company’s fast-paced growth and capitalise on new business orders from across the globe.
Gaurav Mirchandani, Director of Candytoy Corporate, emphasized, “This Series A deal of Rs 110.5 crores with 13% liquidation will propel our growth and enable us to invest in the incredible talent that drives our success.”
The fundraising process was guided by JNR Corporate Advisors, led by CA Jayesh Pahuja. Key partners in this funding round included Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market.
As part of its expansion strategy, Candytoy Corporate plans to open additional manufacturing units within Indore and across India. This move aligns with the Indian Government’s Make in India initiative, which aims to bolster local manufacturing and promote self-reliance in the country’s toy industry.
