Ace International Raises USD 35 Mn to Expand Dairy Manufacturing in Andhra Pradesh The funding round was led by Dutch development bank FMO, with participation from ResponsAbility, Incofin and Fiedlin Ventures.
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Delhi-based dairy tech company Ace International has raised USD 35 million in a funding round led by Dutch development bank FMO, with participation from ResponsAbility, Incofin and Fiedlin Ventures.
The company plans to utilise the funds to establish a second manufacturing unit in Andhra Pradesh and to strengthen its supply chain network.
Ace International currently operates a facility in Uttar Pradesh that processes about 500,000 litres of milk per day. The upcoming unit in Kuppam will introduce new dairy nutrition processing technology to the Asian market. It is expected to support the production of specialised nutrition ingredients for global food and nutrition companies.
Located in a major agri producing region with access to logistics infrastructure, the Kuppam facility will work with more than 40,000 farmers through sourcing partnerships. The company said that a significant share of these farmers will be women, helping improve rural incomes and community development.
Founded by Sanjeev Goyal, Ace International manufactures and exports a wide range of dairy products including infant and adult nutrition inputs, whey proteins, milk powder, ghee, butter fat and protein based formulations.
The company exports dairy ingredients to Bangladesh and the Philippines and plans to expand to Southeast Asia, the Middle East, Africa and the US.
Ace International competes with companies such as Parag Milk Foods, Milky Mist Dairy Food, Hatsun Agro Product and Heritage Foods.
