Hangyo Ice Cream, based in Mangaluru, has secured $25 million in funding from Faering Capital.

Hangyo Ice Cream, based in Mangaluru, has secured $25 million (about Rs 211 crore) in a funding round led by Faering Capital. The company plans to use the funds to boost production, accelerate new product development, and expand its market reach, particularly in South India. Founded in 2003 by Pradeep Pai, Dinesh Pai, and Jagdeesh Pai, Hangyo offers a wide range of products, including cups, cones, sorbets, stick ice creams, tubs, and kulfis. These products are available through general trade, modern trade, and online platforms, including quick commerce channels. Hangyo has established a strong presence in Karnataka, Tamil Nadu, Kerala, Goa, Andhra Pradesh, Telangana, and Maharashtra, with distribution through over 350 distributors and 30,000 retail outlets.Pradeep Pai, Founder and MD of Hangyo, expressed his satisfaction with the partnership with Faering Capital, highlighting the financial and strategic benefits it brings to the company’s growth and market leadership. Dinesh Pai, Founder and Executive Chairman, also emphasized that Faering Capital's support will be crucial in expanding Hangyo's reach and introducing new products to consumers. Sameer Shroff, Co-founder and Managing Director at Faering Capital, praised Hangyo as a rapidly growing and profitable consumer company known for its high-quality products, wide distribution, and strong customer loyalty. He expressed excitement about supporting Hangyo in its next phase of growth.