Candytoy Corporate raises Rs 110 Cr in Series A round

Indore-based Candytoy Corporate (CTC), a global manufacturer of plastic promotional toys and confectionery, has raised Rs 110 crore (about $13.22 million) in its Series A round from a group of domestic investors including Abakkus Asset Managers, Girik Capital, Param Capital Research, Sixth Sense Ventures, and Viney Equity Market.

The proceeds will be used to expand its manufacturing capabilities and invest in building a strong talent pool to support its rapid growth. 

Founded by Gaurav Mirchandani, CTC supplies candy toys and promotional toys to over 40 countries across three continents, and this strategic move aligns with its vision of scaling operations to meet increasing global demand.

CTC employs over 2,000 people and operates six manufacturing units in Indore, Delhi, and Hyderabad, as well as a facility in Jebel Ali, Dubai. The company also collaborates with 11 contract manufacturers to meet its growing demand.

Currently, CTC claims to have a daily production capacity of 10.5 million candy toys, using over 250 machines while maintaining stringent quality standards. The platform exports to regions including Europe, the United States, Africa, Turkey, Japan, the Middle East, and more.