Candytoy Corporate (CTC), a multinational producer of plastic promotional toys and confections with headquarters in Indore, has raised Rs 110 crore, or roughly $13.22 million, in its Series A round from a number of domestic investors, including Viney Equity Market, Abakkus Asset Managers, Girik Capital, Param Capital Research, and Sixth Sense Ventures.
The money raised will be put toward developing a strong talent pool and increasing its manufacturing capacity in order to support its quick expansion.
CTC, which was founded by Gaurav Mirchandani and provides candy and promotional toys to more than 40 nations on three continents, is making this calculated move in line with its goal of growing its business to satisfy rising demand worldwide.
With six manufacturing facilities in Hyderabad, Delhi, and Indore in addition to a facility in Jebel Ali, Dubai, CTC employs more than 2,000 people. Additionally, the business works with eleven contract manufacturers to satisfy its expanding demand.
With more than 250 machines and strict quality standards, CTC currently claims to be able to produce 10.5 million candy toys per day. The platform exports to a number of countries, including the Middle East, Japan, Africa, Europe, the US, and Turkey.
