November 26, 2024: Candytoy Corporate raised Rs 110 crore in series A funding to augment its production capabilities and invest in talent acquisition for accelerating all round growth. The toys firm produces and supplies Candy Toys and promotional toys to more than 40 countries.
Founded in 2019 in Indore the firm has an installed production capacity of 10.5 million Candy Toys per day. Presently, its products are exported to Europe, the US, African countries, Turkey, South Africa, Japan, Saudi Arabia, Oman, Kuwait, and UAE.
Candytoys has more than 250 machines at its six manufacturing units in Indore, Delhi, and Hyderabad, in India, as well as Jebel Ali in Dubai as well as 11 contractual manufacturers.
Candytoys Corporate to have 13% liquidation
Gaurav Mirchandani, Director, Candytoy Corporate Pvt Ltd said “This series A deal of Rs 110.5 crores with 13% liquidation will not only help propel our growth but also invest in the incredible talent that drives our success to take on the new business orders received from across the globe.”
“We plan to open more manufacturing units within Indore and India keeping in line with our Government’s Make in India initiative,” added Mirchandani.
The latest round of funding was secured from domestic investors, HNIs, angel investors, and institutional investors the company said in a statement.
With JNR Corporate Advisors led by CA Jayesh Pahuja as the Advisor, the fundraising partners included Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market.
