Indore-based Candy Toys Corporation (CTC Toys) has just hit a major milestone by raising INR 110 crore (approximately USD 13.22 million) in its Series A funding round. Leading this charge were Abakkus Asset Managers, with significant contributions from Girik Capital, Param Capital Research, Strategic Sixth Sense, and Viney Equity Market. Swastika Investmart Ltd acted as the lead advisor to the transaction. This funding marks a significant achievement, making CTC Toys the first in its sector to exceed INR 100 crore in private equity.
The investment underscores a growing faith in India’s toy manufacturing sector, spotlighting CTC Toys’ potential to innovate and expand within a cutthroat market. With this financial boost, the company is set to strengthen its production capabilities, expand its team, and push into international markets.
Fueling Growth with Innovation
Gaurav Mirchandani, Director at CTC Toys, shared, “This INR 110 crore isn’t just about growth; it’s about enhancing the groundwork that’s already been laid with our talent and infrastructure.” The funds will be channelled into upgrading manufacturing with automation and eco-friendly practices, aiming to increase efficiency and output.
Sunil Nyati, Managing Director of Swastika Investmart, who facilitated the deal, commented, Candytoy’s exceptional growth potential and its ability to adapt to market trends makes it a great opportunity. He added, with over 2,000 manpower CTC is poised to further solidify its position as a leader in the candy toy and promotional toy industry, expanding its reach and fostering long-term growth across its global markets.
Going forward, CTC Toys plans to diversify its product lineup, introducing new toy lines and tailored promotional products that align with current market trends. There’s also a focus on nurturing its workforce through expanded training programs and job opportunities as the company scales up.
Strategic Expansion and Global Reach
In sync with the ‘Make in India’ initiative, CTC Toys aims to broaden its manufacturing base across India. Currently, it operates six units in Indore, Delhi, Hyderabad, and even Jebel Ali, Dubai, churning out 10.5 million candy toys daily. The new strategy includes setting up specialized units for design and promotional products, catering to both domestic and international demand.
To keep competitive, The company is ramping up its R&D efforts. New centres will delve into innovative materials, design, and production techniques, ensuring the company stays ahead of the curve.
Gaining Trust from High-Profile Clients
CTC Toys has built a reputation for reliability, securing places in supply chains for global giants like Colgate, Puma, MTR, Bournvita, Yellow Diamond, Vistara Airlines, and AirAsia. Their latest venture with Reliance Retail has further solidified their standing in India’s burgeoning consumer goods market.
The company’s knack for creating customized promotional items has carved out a niche, distinguishing it in the crowded toy and confectionery market. This not only drives growth but also cements trust among clients looking for quality and dependability.
A Milestone for India’s Toy Industry
This funding round represents a pivotal moment for Candy Toys Corporation. With over 2,000 employees and ambitious expansion plans, CTC Toys is poised to lead in the promotional and candy toy segments. It reflects broader shifts in consumer preferences towards innovative marketing solutions, where CTC Toys is ready to capitalize.
Looking forward, the company is eyeing collaborations with international distributors and retailers to extend its global footprint, potentially leading to deeper market penetration and revenue growth.
The Path Forward
The story of Candy Toys Corporation is one of resilience, foresight, and adaptability. This funding round not only underscores their commitment to quality and innovation but also to sustainable practices. In an industry that’s increasingly demanding creative and environmentally conscious solutions, CTC Toys, with its emphasis on quality and adaptability, could well become a global standard for the promotional and candy toy market.
