Jungle Ventures invests $20 million more in ice cream maker Walko in larger trend
Jungle Ventures on Tuesday said it invested $20 million in Walko Food, an ice-cream brand and quick-service restaurant company. The investment is in line with a broader trend that the food-linked startup ecosystem is witnessing.
The Singapore-based venture capital firm is focussed on companies in the early growth stage in India and Southeast Asia. This is its second investment in Walko Food in less than 12 months.
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Offering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitInvestors focussed on the consumer and retail sector said the market is currently prime for businesses focussed on quick capital efficiencies and centralised infrastructure in distribution.
In numbers, while venture capital deployments in the broader food brand space have been on the decline through 2022 to 2023, deal density has seen a steady rise.
The first month of 2024 has seen strong deal activity. As per Venture Intelligence data, the sector attracted $97 million across seven venture capital deals in January. This translates to about $14 million per deal on an average.
Startups with food brands such as Country Delight, The Baker’s Dozen, Wow! Momo Foods and Slurrp Farm raised sizable growth-stage fundings during the month.
In 2023, a total of 30 startups had raised $218 million, equating to $7 million per deal.
In 2019, food brands
