Mumbai based, Walko Food aspires to be a food company which is known for uncompromising quality and customer experience. The company operates a manufacturing plant in Pune and retails in over 50 cities across India, via multiple sales channels like food delivery platforms, modern trade, Parlors. The ice cream flavors range from fruit, dry fruit variants to international tastes like sea salted

caramel, Madagascar chocolate, French Vanilla, and the ones inspired by Indian sweetmeats like Gulab Jamun, sheer khurma, til gud, gajar halwa to name a few. The company has also recently launched the desi kulfi brand Grameen.

Quick-service restaurant (QSR) and ice cream brand Walko Food's NIC has raised $20 million in a new fundraising round headed by current backer Jungle Ventures.In less than a year, this marks Jungle's second investment in Walko Food. In May of last year, the Singapore-based venture capital firm led a $11 million funding round for Walko. According to a press statement from the company, the most recent funding round will hasten Walko's entry into the Indian ice cream industry and expand the company's consumer base and product line.

Walko, a company that was co-founded in 2012 by Jeetendra Bhandari, Sanjiv Shah, and Raj Bhandari, offers thick shakes, frozen desserts, kulfis, and premium ice cream under the names NIC, Grameen Kulfi, Yummo, and Cream Pot. Walko says it is present in more than 100 Indian cities and has grown at a compound annual growth rate (CAGR) of 90% over the past five years.

In order to increase brand awareness, the company previously named star Rashmika Mandanna as its brand ambassador for its luxury ice cream brand, NIC. Most recently, the company teamed up with Zepto to distribute 250,000 cups of NIC ice cream. New-age and well-known brands including Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul, and Vadilal are competitors of NIC. From Rs 128 crore in FY22 to Rs 170 crore in FY23, NIC's operating revenue climbed by 32%. According to the company's consolidated financial statement, the business reported a loss of Rs 26.55 crore for FY23 as opposed to Rs 85 lakh profit in the previous year.Jungle Ventures backs startups from early to growth to IPO stage. Its portfolio includes Kredivo, Moglix, Livspace, Builder.ai, Atomberg, and others.