About NIC Ice Creams
NIC Ice Creams is a company based in Pune (India) founded in 1984 by Raj Bhandari, Sanjeev Shah, and Jeetendra Bhandari. It operates as a Direct-to-Consumer (D2C), and Reseller / Distribution. NIC Ice Creams has raised $31 million across 2 funding rounds from investors including Jungle Ventures. NIC Ice Creams offers products and services including Super Premium Ice Cream, No Added Sugar Ice Cream, and Indian Inspirations Ice Cream. NIC Ice Creams operates in a competitive market with competitors including Hangyo, Polar Bear, MamaMia!, Cafe Chokolade and Apsara Ice Creams, among others.
- Headquarter Pune, India
- Founders Raj Bhandari, Sanjeev Shah, Jeetendra Bhandari
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Sectors
Consumer
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Email
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Phone
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Website
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Social
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- Legal Name Walko Food Company Private Limited
- Date of Incorporation 03 Jul, 2012
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$141.07 K (USD)146.4as on Mar 31, 2022
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Net Profit
$-71.53 K (USD)-4458.07as on Mar 31, 2022
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EBITDA
$-77.35 K (USD)-535.34as on Mar 31, 2022
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Total Equity Funding
$31 M (USD)
in 2 rounds
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Latest Funding Round
$20 M (USD), Series C
Feb 21, 2024
- Investors
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Employee Count
Employee Count
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Products & Services of NIC Ice Creams
NIC Ice Creams offers a comprehensive portfolio of products and services, including Super Premium Ice Cream, No Added Sugar Ice Cream, and Indian Inspirations Ice Cream. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Premium ice cream is offered with sophisticated, velvety swirls.
Guilt-free ice cream is provided with delightful, light flavors.
Festive Indian flavors are crafted into creamy, indulgent scoops.
Funding Insights of NIC Ice Creams
NIC Ice Creams has successfully raised a total of $31M across 2 strategic funding rounds. The most recent funding activity was a Series C round of $20 million completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series C — $20.0M
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First Round
First Round
(24 May 2023)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Feb, 2024 | Amount | Series C - NIC Ice Creams | Valuation | Jungle Ventures |
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| May, 2023 | Amount | Series B - NIC Ice Creams | Valuation | Jungle Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in NIC Ice Creams
NIC Ice Creams has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Jungle Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments in early and growth-stage companies across Southeast Asia and India, focusing on technology sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by NIC Ice Creams
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - NIC Ice Creams
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Nic Ice Creams Comparisons
Competitors of NIC Ice Creams
NIC Ice Creams operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Hangyo, Polar Bear, MamaMia!, Cafe Chokolade and Apsara Ice Creams, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Ice cream products are manufactured and branded by Hangyo.
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| domain | founded_year | HQ Location |
Polar Bear is recognized for offering ice cream sundaes.
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| domain | founded_year | HQ Location |
Ice cream parlours are operated as a chain in India.
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| domain | founded_year | HQ Location |
Operates a chain of restaurants focused on ice creams and beverages.
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| domain | founded_year | HQ Location |
Handcrafted premium ice creams with real fruits, nuts, and no preservatives.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Nic Ice Creams
Frequently Asked Questions about NIC Ice Creams
When was NIC Ice Creams founded?
NIC Ice Creams was founded in 1984 and raised its 1st funding round 39 years after it was founded.
Where is NIC Ice Creams located?
NIC Ice Creams is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
Who is the current CEO of NIC Ice Creams?
Jeetendra Bhandari is the current CEO of NIC Ice Creams. They have also founded this company.
Is NIC Ice Creams a funded company?
NIC Ice Creams is a funded company, having raised a total of $31M across 2 funding rounds to date. The company's 1st funding round was a Series B of $11M, raised on May 24, 2023.
What is the annual revenue of NIC Ice Creams?
Annual revenue of NIC Ice Creams is $141.07K as on Mar 31, 2022.
What does NIC Ice Creams do?
NIC Ice Creams is known for producing high-quality, handcrafted ice creams using real, premium ingredients sourced globally, such as Madagascar cocoa and Mahabaleshwar strawberries. The company operates in the food and beverage sector, focusing on dairy products with a diverse range of flavors across six categories, including Super Premium, No Added Sugar, and Indian Inspirations. Solutions are provided through direct-to-consumer sales and distribution via parlours in multiple cities across India, ensuring accessibility to a wide customer base. Emphasis is placed on creating memorable experiences with every scoop, catering to diverse tastes with innovative and traditional flavors.
Who are the top competitors of NIC Ice Creams?
NIC Ice Creams's top competitors include Hangyo, Cafe Chokolade and MamaMia!.
What products or services does NIC Ice Creams offer?
NIC Ice Creams offers Super Premium Ice Cream, No Added Sugar Ice Cream, and Indian Inspirations Ice Cream.
Who are NIC Ice Creams's investors?
NIC Ice Creams has 1 investor. Key investors include Jungle Ventures.