Ice Make Refrigeration manufactures commercial and industrial cooling equipment, including upright and table commercial refrigerators and related refrigeration products. The company has entered a strategic partnership with Galilei Holdings that will form a joint venture (Galilei 60%, Ice Make 40%) to manufacture, market and distribute commercial refrigeration products. Planned use of recent funding includes capacity expansion, modernization of existing operations, and scaling integrated refrigeration and cold room solutions to meet rising demand. Ice Make will also deploy funds to complete a new corporate office, a Centre of Excellence, and a development and testing laboratory to bolster innovation and R&D. The company intends to evaluate select inorganic growth opportunities in refrigeration, cold chain and allied sectors, and will use part of the proceeds to repay certain borrowings and strengthen its balance sheet.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2026