Candytoy Corporate, an Indore-based global supplier of candy and promotional toys, has raised ₹110 crore in its Series A funding round from a diverse group of domestic investors, high-net-worth individuals (HNIs), angel investors, and institutional investors.
The fundraising round saw participation from leading investment partners, including Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market.
JNR Corporate Advisors, led by CA Jayesh Pahuja, served as the advisor for the deal.
“We are getting into a very exciting phase. This series A deal of Rs 110.5 crore with 13 per cent 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,” said Gaurav Mirchandani, Director of CTC.
Founded in 2019, Candytoy Corporate operates under two brands: SM Toys and Hoppin Candy Toy.
CTC operates six manufacturing units across Indore, Delhi, and Hyderabad in India and Jebel Ali in Dubai, with an additional network of 11 contractual manufacturers. The company’s state-of-the-art facilities boast a daily production capacity of 10.5 million candy toys.
Currently, Candytoy Corporate exports its products to over 40 countries, including Europe, the United States, Turkey, South Africa, Japan, Saudi Arabia, Oman, Kuwait, and the UAE.
