Walko Food Company

Established in 2012, Walko Food Company operates within the Indian dessert and frozen foods market, positioning itself as a quick-service restaurant (QSR) and food company. The Pune-based firm was founded by Jeetendra Bhandari, Sanjiv Shah, and Raj Bhandari.

The company's business model is centered on a digital-first distribution strategy, making its products widely available on major food technology and quick commerce platforms like Swiggy, Zomato, Blinkit, and Instamart. This approach is complemented by a growing offline presence through modern trade channels and dedicated ice cream parlors. Walko primarily generates revenue through the manufacturing and sale of ice creams, kulfis, frozen desserts, and thick shakes under a portfolio of distinct brands. For the fiscal year 2023, the company reported revenue from operations of Rs 170 crore.

Walko's multi-brand strategy targets various consumer segments. Its flagship brand, NIC Honestly Crafted Ice Creams, focuses on premium offerings made with pure milk and no artificial additives, boasting over 50 flavors. Grameen Kulfi taps into the traditional Indian dessert market, offering authentic kulfi. To capture the mass-market segment, Walko introduced the Yummo brand. The portfolio also includes Café Chokolade for chocolate-based desserts and Cream Pot, which serves the business-to-business hospitality and catering sector. Further expanding its market reach, Walko recently acquired Meemee's Ice Creams, a Mumbai-based artisanal brand known for its creative products, to strengthen its position among urban millennial and Gen Z consumers.

The company has demonstrated significant growth, attracting substantial investor interest. It has raised a total of $43.2 million over several funding rounds. Key investments include an $11 million round in May 2023, followed by a $20 million round in February 2024, both led by Jungle Ventures. This capital is being used to expand production capacity, enhance product offerings, and broaden distribution to solidify its market share in India's competitive dessert industry.

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