NOTO Ice Cream has successfully raised Rs 15 crore ($1.75 million) in a growth funding round led by Inflection Point Ventures (IPV), with additional participation from JITO Incubation and Innovation Foundation and LetsVenture. This investment marks a significant milestone in the brand’s journey as it looks to scale operations and enhance its market presence.
Previously, the Mumbai-based company secured Rs 4 crore in a pre-Series A round from investors such as Titan Capital, Rockstud Capital, Bollywood actor John Abraham, WEH Ventures, and other angel investors.
The latest infusion of funds will be strategically allocated to expanding into Tier 1 and Tier 2 cities, driving product innovation, strengthening marketing initiatives, and enhancing offline retail presence to boost brand awareness, NOTO announced in a press release.
A Healthier Take on Ice Cream
Founded in 2019 by Varun and Ashni Sheth, NOTO Ice Cream aims to redefine the ice cream industry by offering indulgent yet health-conscious options. The brand prioritizes taste while ensuring its products are low-calorie, high-protein, and contain minimal to no sugar, catering to health-conscious consumers who seek guilt-free indulgence.
NOTO’s diverse product lineup includes ice cream tubs, popsicles, Greek yogurt cheesecakes, and vitamin C-fortified fruit popsicles. The brand highlights that its ice creams are enriched with prebiotic fiber and protein, while being free from preservatives, artificial sweeteners, flavors, and colors. Additionally, NOTO claims its products contain 75% less sugar than traditional ice creams.
Market Expansion and Competitive Landscape
Currently available in Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune, NOTO has ambitious plans to enter Ahmedabad, Kolkata, and Lucknow. The brand distributes its products via leading delivery platforms such as Swiggy, Zomato, Zepto, BigBasket, Instamart, and Blinkit, and is now working on expanding its offline retail presence to diversify sales channels.
The Indian ice cream market, valued at Rs 228.6 billion in 2023, is projected to reach Rs 956 billion by 2032, highlighting a significant growth opportunity for players in the space. NOTO competes with other health-focused ice cream brands like Habit Health, Get-A-Whey, Good Fettle, Papacream, and Nomou.
With its latest funding, NOTO is set to accelerate its growth and innovation, further solidifying its position as a leader in the emerging segment of guilt-free indulgence.
