The funds have primarily been used to expand the companyâ€™s production capacity, and introduce its 2nd product, Epigamia, Indiaâ€™s first ever range of Greek Yogurt.
Drums Food International, owner of the Hokey Pokey brand of ice cream, announced that the company has closed additional financing of Rs 5 crore led by Vish Narain, Country Head at TPG Growth, and Fireside Ventures, a private investment firm floated by former Helion Ventures MD Kanwaljit Singh.
Prior investor Shripad Nadkarni has also participated in the second round of investment. The company has raised 15 crores over multiple rounds of funding so far.
Hokey Pokey is one of the leaders in serving India’s super premium ice creams and innovators in introducing the concept of interactive ice cream counters.
It retails at stores such as Godrej Nature’s Basket, Future Group Foodhall, Big Bazaar, Reliance Fresh, Hypercity, and e-commerce platforms such as Big Basket and Local Banya.
Hokey Pokey products are now available across Mumbai, Pune, Delhi, Bangalore, Hyderabad, and Chennai.
The funds have primarily been used to expand the company’s production capacity, and introduce its 2nd product, Epigamia, India’s first ever range of Greek Yogurt.
Additionally, Rahul Jain, Co-Founder at Dr Moo, joins the company as Director and will take over all operational responsibilities.
“We are excited to bring Kanwal and Vish on board as not just investors but value-added advisors and partners. Shripad is a mentor and without his guidance, the company wouldn’t be where it is today. We are confident that this group’s support will continue to help us achieve our goals. Rahul’s experience in the dairy supply chain is a valuable addition and the sky is the limit now with our formidable team of Chef Ganesh Krishnamoorthy on the product side and Rahul on the operations side,” said Rohan Mirchandani, Co-Founder, Hokey Pokey.
The company intends to expand its product range in the value-added dairy space and is determined to be a formidable player in the fast emerging “GLocal” space, standing for global quality, and locally made in India. The goal is to focus on increasing throughput at its current distribution points and increasing distribution channels across the country.