Ace International raises $35 Mn led by FMO

Dairy tech company Ace International has raised $35 million in a funding round led by Dutch development bank FMO, with participation from ResponsAbility, Incofin, and Fiedlin Ventures.

The proceeds will be used to set up a second manufacturing unit in Andhra Pradesh and strengthen its supply chain. Its current facility in Uttar Pradesh processes about 500,000 litres of milk per day.

The upcoming facility will introduce new dairy nutrition processing technology to the Asian market and is expected to support the production of specialised nutrition ingredients for global food and nutrition companies.

Located within a major agri-producing region and supported by existing logistics infrastructure, the Kuppam complex will engage more than 40,000 farmers, including a substantial number of women, through sourcing partnerships that are intended to strengthen rural livelihoods, the company said.

Ace International manufactures and exports dairy products and ingredients. The company processes raw milk into infant-nutrition inputs, adult-nutrition inputs, ready-to-mix products, whey proteins, milk powder, ghee and butter fat, and protein-based formulations. It supplies both B2B and B2C customers.

The brand exports dairy ingredients to Bangladesh and the Philippines. It plans to expand its export network to Southeast Asia, the Middle East, Africa, and the United States.