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John Abraham-backed NOTO Ice Cream raises Rs 15 Cr

EntrackrEntrackr · 1y ago
John Abraham-backed NOTO Ice Cream raises Rs 15 Cr
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.

Walko Food Company acquires Meemee’s Ice Creams

EntrackrEntrackr · 8m ago
Walko Food Company acquires Meemee’s Ice Creams
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.

Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation

EntrackrEntrackr · 5m ago
Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation
Medial

Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation Premium ice cream brand Hocco has raised Rs 115 crore (around $13 million) in a fresh funding round led by existing backer Sauce.vc, taking the company’s valuation to Rs 2,000 crore. The funding comes less than three months after the firm raised $10 million in its Series B round led by Chona Family Office and Sauce.vc. It had also raised $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million) in June last year. The fresh proceeds will be used towards expanding manufacturing capacity, strengthening cold-chain and logistics, scaling new product innovation, and extending its footprint across India and select global markets. By summer 2026, Hocco plans to reach 3 lakh litres in daily production capacity, making it one of the largest and most advanced ice cream manufacturing setups in the country. Founded by the Chona family, Hocco offers products across retail stores, quick commerce platforms, and out-of-home touchpoints. Its product line includes various flavours, formats, and packs designed for everyday use and modern retail channels. Hocco has built traction among consumers across retail, quick commerce, and travel-linked outlets through its ingredients, flavours, and distribution models. Hocco recently said it closed FY25 with revenue of Rs 220 crore. However, it did not comment on its loss numbers. According to startup data intelligence platform TheKredible, the company reported revenue of Rs 32.38 crore 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.

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