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John Abraham backed ice cream brand Noto raises Rs 21 crore from Equentis Angel Fund, others
Economic Times
·
3m ago
Medial
Noto, a Mumbai-based ice cream brand backed by actor John Abraham, has secured Rs 21 crore in funding led by Equentis Angel Fund, with additional investors. Founded in 2019, Noto specializes in low-calorie, sugar-free, and vegan ice creams. The raised funds will enhance production, distribution, and brand presence, and support new product lines and offline store launches. The company plans to expand in tier I and II cities, leveraging its early-mover advantage in the healthy snacking market.
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John Abraham-backed NOTO Ice Cream raises Rs 15 Cr
Entrackr
·
5m ago
Medial
John Abraham-backed NOTO Ice Cream has raised Rs 15 crore ($1.75 million) in a growth funding round led by Inflection Point Ventures (IPV), with participation from JITO Incubation and Innovation Foundation and LetsVenture. Prior to this, the Mumbai-based brand had raised Rs 4 crore in a pre-Series A round, which saw investments from Titan Capital, Rockstud Capital, Bollywood actor John Abraham, WEH Ventures, and other angel investors. The proceeds from this round will be used to accelerate expansion into Tier 1 and Tier 2 cities, drive product innovation, strengthen marketing efforts, and enhance offline presence to increase brand awareness, NOTO stated in a press release. Co-founded in 2019 by Varun and Ashni Sheth, NOTO Ice Cream aims to revolutionize the ice cream industry by offering indulgent yet healthy options that do not compromise on taste. The brand focuses on providing healthier alternatives without sacrificing flavor. It offers ice creams that are low-calorie, high-protein, and contain little to no sugar, allowing health-conscious consumers to indulge guilt-free. NOTO’s product range includes ice cream tubs and popsicles, Greek yogurt cheesecakes, and vitamin C-fortified fruit popsicles. The brand claims that its ice creams contain prebiotic fiber and protein and have no preservatives, artificial sweeteners, flavors, or colors, with 75% less sugar than regular ice cream. NOTO’s products are available on delivery platforms such as Swiggy, Zomato, Zepto, BigBasket, Instamart, and Blinkit. The company is also planning to expand its offline presence to reduce dependency on a single sales channel. According to market research, the Indian ice cream market was valued at Rs 228.6 billion in 2023 and is projected to reach Rs 956 billion by 2032. NOTO has already expanded across Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune, with plans to scale into Ahmedabad, Kolkata, and Lucknow. The brand competes with other players in the healthy ice cream space, including Habit Health, Get-A-Whey, Good Fettle, Papacream, and Nomou, among others.
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Onetab, NOTO Ice Cream snag early-stage funding for expansion
VCCircle
·
5m ago
Medial
Onetab AI, a software development platform, raised $3.3 million in seed funding to enhance its features and expand operations, focusing on integrating tools for efficient project management. NOTO Ice Cream secured Rs 15 crore in a funding round led by Inflection Point Ventures. The funds will aid its expansion to tier I and II cities, launch new flavors, and enhance marketing efforts. Co-founded in 2019, NOTO offers healthier ice cream options and is expanding across India.
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Ice cream brand Hocco raises $10 Mn in first close of Series B round
Entrackr
·
2m ago
Medial
Premium ice cream brand Hocco has raised $10 million as the first tranche of its $20 million Series B round, co-led by promoter Chona Family Office and consumer-focused venture capital firm Sauce VC. The fresh round has come within a year for the Ahmedabad-based company. It scooped up $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million). The company said the second close of the round is expected later this year. The fresh funds will be deployed towards expanding Hocco’s manufacturing capacity, strengthening distribution networks, and entering new markets across India. A portion of the capital will also be allocated to new product development and brand marketing. Founded by the Chona family — former owners of legacy ice cream brand Havmor — Hocco offers a mix of regional and globally inspired flavours across retail, QSR, and quick commerce channels. The company aims to close FY25 with Rs 500 crore in revenue. According to startup data intelligence platform TheKredible, it reported only Rs 32.38 crore in revenue in FY24 with a Rs 20.23 crore loss. Besides legacy players such as Amul, Vadilal, and Hindustan Unilever (HUL), Hocco competes with new-age ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, NOTO Ice Cream, among others. In February 2024, NIC raised $20 million in a new funding round led by Jungle Ventures, a year after raising $11 million led by the same investor. Last year, Hangyo raised $25 million (around Rs 211 crore) from Faering Capital. NOTO and Go Zero also announced their initial fundraises.
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Zero sugar ice cream brand Go Zero raises $1M in funding from DSG Consumer Partners, angels
IndianStartupNews
·
2y ago
Medial
Go Zero, a zero-sugar ice cream brand, secures funding from DSG Consumer Partners and angel investors. This investment reflects the growing interest and support for healthier food alternatives. Go Zero's innovative approach to producing sugar-free ice cream has garnered financial backing from key players in the startup and consumer product investment space.
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Hocco Ice Cream eyes top spot in India with ₹100 crore funding
Inshorts
·
2m ago
Medial
Hocco Ice Cream, founded by Ankit Chona, has raised ₹100 crore to fuel its national expansion. With over 150 SKUs, a premium sub-brand, and plans to boost production and retail presence, Hocco aims for ₹400 crore revenue by FY26. Celebrity-backed and innovation-driven, it’s quickly emerging as a top contender in India’s growing ice cream market.
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Walko Food Snags Another $20 Mn From Exiting Backer Jungle Ventures
Inc42
·
1y ago
Medial
Pune-based ice cream brand Walko Food, known for its NIC brand, has secured an additional $20 million investment from Jungle Ventures. This follows a $11 million investment made by the same backer last year. Walko Food plans to use the funds to expand its product lineup, strengthen its presence in the Indian ice cream market, and introduce Yummo, a new ice cream brand for the Indian retail market. The ice cream industry in India is projected to generate $5.33 billion in revenue by 2024, with an expected annual growth rate of 10.86%.
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Walko Food's NIC raises $20 Mn led by Jungle Ventures
Entrackr
·
1y ago
Medial
Walko Food’s NIC, an ice cream brand and a quick-service restaurant (QSR) company, has raised $20 million in a new funding round led by existing investor Jungle Ventures. This is Jungle’s second investment into Walko Food within less than 12 months. The Singapore-based VC firm led a $11 million round in Walko in May last year. The latest round of capital will further propel Walko’s expansion across its product portfolio and customer reach, and accelerate its penetration into the Indian ice cream market, the company said in a press release. Co-founded in 2012 by Jeetendra Bhandari, Sanjiv Shah, and Raj Bhandari, Walko sells premium ice creams, kulfis, frozen desserts and thick shakes via its brands including, NIC, Grameen Kulfi, Yummo, and Cream Pot. The products are available on food tech and quick commerce platforms such as Instamart, Zomato, Swiggy, and Blinkit, among others. Walko claims that it has achieved a CAGR of 90% in the last five years and has a presence in over 100 cities across India. Earlier, the company appointed celebrity Rashmika Mandanna as its brand ambassador for its premium ice cream brand NIC to amplify brand presence and it also recently partnered with Zepto to distribute 250,000 cups of NIC ice cream. NIC competes with new-age as well as established brands such as Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul and Vadilal. NIC’s revenue from operations increased 32% to Rs 170 crore during FY23 as compared to Rs 128 crore in FY22. As per the company’s consolidated financial statement, the firm posted Rs 26.55 crore loss in FY23 against 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.
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Investment advisory firm Equentis launches maiden angel fund
VCCircle
·
7m ago
Medial
Investment advisory firm Equentis Wealth Advisory Services has launched its maiden angel fund, the Equentis Angel Fund, with a target corpus of $60 million. The fund will focus on early-stage, high-growth Indian startups in their Pre-Series A and Bridge-to-Series A funding rounds, with investments in the range of $530,000 to $1.3 million. The fund aims to invest in 40-50 startups over the next 18-24 months, with a focus on sectors such as defence, consumer-tech, deeptech, logitech, fintech, and AI. Equentis has already made its first investment in logitech startup OORJAA.
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Ice cream brand Go Zero raises $1.5 Mn
Entrackr
·
1y ago
Medial
Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.
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Walko Food Company acquires Meemee’s Ice Creams
Entrackr
·
1m ago
Medial
Walko Food Company acquires Meemee’s Ice Creams Premium dessert brand Walko Food Company has acquired Mumbai-based Meemee’s Ice Creams, marking its foray into the artisanal dessert market. With this, Walko plans to expand its portfolio and deepen its reach among urban and digitally-savvy consumers. Known for its offerings like Toasties, Roley’s, and Tubsters, Meemee’s has built a niche following among younger audiences. The acquisition will help the brand scale its D2C presence by leveraging Walko’s supply chain and presence across 100 cities. Walko operates brands like NIC Ice Creams, Grameen Kulfi, and Mimo Ice Creams, distributing through platforms like Swiggy, Zomato, Blinkit, and Amazon. The company, backed by JM Financial and Jungle Ventures, is looking to tap into India’s Rs 44,000 crore ice cream market, growing at ~11% CAGR. In February last year, Walko Food’s NIC had raised $20 million in a new funding round led by existing investor Jungle Ventures. NIC competes with new-age as well as established brands such as Cream and Fudge, Havmor, Baskin Robbins, Kwality Walls, Mother Dairy, Cream Bell, Amul, and Vadilal.
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