Indore, India – Candytoy Corporate, a leading supplier of candy and promotional toys, has successfully raised Rs 110 crore in a Series A funding round. The round saw participation from a diverse group of investors, including domestic high-net-worth individuals (HNIs), angel investors, and institutional players. The company plans to use the funds to enhance its manufacturing capabilities and expand its workforce as it seeks to accelerate growth.
Strategic Plans for Growth and Expansion
The funding will primarily be directed towards expanding Candytoy’s production capacity and strengthening its existing infrastructure. The company also intends to scale its talent pool to accommodate the increasing number of business orders coming from international markets. In addition to expanding its workforce, Candytoy plans to open more manufacturing units across India, with a particular focus on Indore. This will align with the Government’s Make in India initiative, aimed at bolstering local manufacturing capabilities.
Investor Confidence and Strategic Backing
The Series A funding round was advised by JNR Corporate Advisors, with CA Jayesh Pahuja leading the efforts. Key investment partners included Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market. This diverse group of investors reflects strong confidence in the company’s business model and growth prospects, positioning Candytoy for continued success in a highly competitive industry.
Impressive Global Reach and Manufacturing Footprint
Founded in 2019, Candytoy Corporate has quickly established itself as a prominent player in the global toy industry. The company currently exports its products to over 40 countries, including major markets in Europe, the United States, South Africa, Turkey, Japan, and the Middle East. With a production capacity of 10.5 million candy toys per day, the company operates across six manufacturing units located in Indore, Delhi, Hyderabad, and Jebel Ali in Dubai. The company also relies on 11 contractual manufacturers to help meet its production goals.
Expanding Manufacturing Under Make in India Initiative
As part of its growth strategy, Candytoy is focusing on expanding its manufacturing footprint in line with India’s Make in India initiative, which aims to increase local manufacturing and boost the country’s role in global supply chains. By opening new production facilities, the company hopes to improve supply chain efficiency while addressing the growing demand for its products in both domestic and international markets.
Looking Ahead: A Strong Future for Candytoy
With robust financial backing and a growing global presence, Candytoy Corporate is positioned to continue its upward trajectory in the toy manufacturing sector. The funds raised in the Series A round will play a crucial role in supporting the company’s expansion plans, enabling it to scale operations and invest in talent. As the company strengthens its manufacturing base and aligns with national initiatives, it is set to maintain its competitive edge in the global toy market.
TET 
The Entrepreneur Today Desk