Walko Food Company Acquires Meemee’s Ice Creams, Enters Artisanal Dessert Segment
- ByStartupStory | July 3, 2025
Walko Food Company, the parent company of popular ice cream brands such as NIC Ice Creams, Grameen Kulfi, and Mimo Ice Creams, has acquired Mumbai-based Meemee’s Ice Creams in a strategic move to expand into India’s artisanal dessert segment. The financial terms of the deal were not disclosed.
Walko stated that the acquisition would strengthen its product offerings under Meemee’s house of brands, enabling the company to diversify into new dessert categories including toasties, ice cream cakes, roleys, and tubsters. The move is also expected to help Meemee’s scale its presence across India, leveraging Walko’s extensive pan-India supply chain.
Founded in 2021 by Meha Agarwal, Meemee’s operates through 14 retail outlets in Mumbai and has built a niche following in the local market. With this acquisition, the brand is poised for broader nationwide reach.
Founded in 2012 by Jitendra Bhandari and Sanjiv Shah, Walko Food Company has established a strong foothold in India’s D2C frozen dessert market. The Pune-based company runs over 200 company-owned delivery kitchens and distributes through major food delivery platforms like Swiggy and Zomato, as well as quick commerce apps like Blinkit and Zepto.
According to data sourced from Tofler, Walko’s operating revenue for FY24 doubled to INR 2.40 Cr, up from INR 1.20 Cr in FY23. It also reported a net profit of INR 4.04 Cr, a significant turnaround from a net loss of INR 8 lakh the previous fiscal year.
The acquisition follows Walko’s $20 million fundraise from Jungle Ventures, an existing investor that previously invested $11 million in 2023.
India’s ice cream and frozen dessert sector has seen rising investor interest. Earlier this year, D2C brands Hocco and Go Zero raised $10 million and ₹30 crore respectively to fuel their expansion. The market is becoming increasingly competitive with players like NOTO, Get-A-Way, and The Brooklyn Creamery also vying for market share. Industry estimates peg the Indian ice cream market to reach $12.6 billion by 2033.
With the Meemee’s acquisition, Walko is expected to further solidify its position in the premium and artisanal dessert category, continuing its mission to innovate and grow within India’s rapidly evolving food and beverage ecosystem.
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