Ace International Secures $35 Million to Expand Dairy Production

Ace International Limited, known for its extensive range of dairy products, has successfully raised $35 million in a funding round led by the Dutch entrepreneurial development bank FMO. Additional participation came from ResponsAbility, Incofin, and Fiedlin Ventures. The company plans to utilize this investment to establish a new manufacturing facility in Andhra Pradesh, complementing its existing plant in Uttar Pradesh, which processes 500,000 liters of milk daily.

The Delhi-based firm's offerings span both B2B and B2C markets, providing products for infant and adult nutrition, as well as ready-to-mix products. Ace International's product lineup includes whey proteins, milk powder, ghee, and butter, which are exported to countries like Bangladesh and the Philippines. The company is also exploring expansion into Southeast Asia, the Middle East, Africa, and the United States.

According to Sanjeev Goyal, founder and chairman of Ace International, the funding will also help strengthen the company's supply chain. In addition to traditional dairy products, the company formulates specialized products by combining dairy with fibers, vitamins, minerals, and specialty fats.