Candytoy Corporate Secures INR 110 Cr Series A Funding to Propel Growth The raised funds will be directed towards expanding manufacturing capabilities and fostering top-tier talent to support the company's rapid growth.
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Indore-based Candytoy Corporate (CTC), a leading manufacturer of plastic promotional toys and confectionery, has raised INR 110 crore in a Series A funding round.
The investment was led by a diverse pool of domestic investors, high-net-worth individuals (HNIs), angel investors, and institutional backers.
The funds will be directed towards expanding manufacturing capabilities and fostering top-tier talent to support the company's rapid growth.
"This INR 110.5 crore Series A deal, with 13% liquidation, marks an exciting phase for us. It enables us to enhance production and invest in the remarkable talent that powers our success, positioning us to fulfill global orders," said Gaurav Mirchandani, Director of CTC.
CTC, incorporated in 2019, operates under two brands: SM Toys and Hoppin Candy Toy.
Its clientele includes prominent companies like Colgate, Puma, Reliance Retail, and Vistara Airlines. Beyond India, CTC supplies candy toys to over 40 countries, spanning Europe, the US, Africa, and the Middle East.
With six manufacturing units across Indore, Delhi, Hyderabad, and Jebel Ali in Dubai, CTC boasts a daily production capacity of 10.5 million candy toys, supported by over 250 machines and 11 contract manufacturers. The company employs over 2,000 people.
"We plan to open more manufacturing units within Indore and India keeping in line with our government's 'Make in India' initiative, Mirchandani added.
CTC's funding milestone marks a significant step in its journey to solidify its market position and cater to increasing global demand, ensuring its continued contribution to India's manufacturing and export growth.
