NOTO Ice Cream Secures ₹15 Crore Growth Funding Led by IPV

Mumbai-based NOTO Ice Cream has raised ₹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. This follows its earlier ₹4 crore pre-Series A round, which attracted 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.

Founded in 2019 by Varun and Ashni Sheth, NOTO Ice Cream is redefining the industry with indulgent yet health-conscious offerings. The brand specializes in low-calorie, high-protein ice creams with minimal to no sugar, allowing consumers to enjoy guilt-free treats without compromising on taste. 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.

NOTO’s diverse product lineup includes ice cream tubs, popsicles, Greek yogurt cheesecakes, and vitamin C-enriched fruit popsicles. The brand emphasizes natural ingredients, incorporating prebiotic fiber and protein while eliminating preservatives, artificial sweeteners, flavors, and colors. With 75% less sugar than regular ice cream, NOTO is available on platforms like Swiggy, Zomato, Zepto, and BigBasket. The company is also expanding its offline presence to diversify sales channels.

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.