“Eating, Not Cheating…the way for more NOTO-riously good innovations” - NOTO Ice Cream CEO on Raising ₹15 Crores in Funding Round Led by IPV

NOTO Ice Cream has become a pioneer in the healthy ice cream category. The brand is known for offering high-quality, innovative, and health-conscious ice cream that doesn’t compromise on taste, aiming to revolutionise the Indian dessert market.

It has become a popular option for health-conscious customers considering its creative flavours and formats as well as its emphasis on better substitutes, including low-calorie, low-sugar ice creams. The brand’s ethos, “Eating, Not Cheating,” resonates strongly with customers.

NOTO recently raised Rs.15 Crores in Funding in the latest round led by Inflection Point Ventures. The funds will be used to improve infrastructure, increase brand awareness, support marketing on food-tech aggregators and quick-commerce platforms, develop new flavours and formats for the summer, and expand into Tier 1 and Tier 2 cities.

About NOTO Ice Cream

Since its founding in 2019, NOTO Ice Cream has reshaped the ice cream industry by providing decadent, healthy ice cream options without compromising on flavour. By offering healthier alternatives without compromising taste, NOTO has rapidly climbed to the top of the market in the good-for-you ice cream category. 

NOTO is aggressively expanding into new markets in Ahmedabad, Kolkata, and Lucknow, in addition to operating in several cities, including Mumbai, Delhi, Bangalore, Hyderabad, Chennai, and Pune. 

Alongside quick commerce sites like Zepto, Blinkit, Instamart, and Flipkart, the brand is also listed on meal delivery services like Swiggy and Zomato.

The brand is also backed by well-known personalities such as John Abraham, Rannvijay Singha, and Kunal Bahl, who share NOTO’s vision of making guilt-free indulgence accessible to all. 

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Founders Varun Seth & Ashni Shah 

NOTO, the brainchild of the Husband-Wife duo, was co-founded in 2019. 

Ashni Shah is a fashion and design enthusiast with experience in marketing and operations, and Varun Sheth is a chef and serial entrepreneur with a wealth of experience in the hospitality sector.  

Varun’s entrepreneurial journey began with 1Tablespoon, which pioneered the concept of sourdough pizzas in Mumbai, while Ashni’s background in creative entrepreneurship helped establish her as a force in the hospitality sector.

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IPV’s Rs 15 Crore Funding

Inflection Point Ventures, an angel investing platform with over 23,500+ CXOs, HNIs, and Professionals to together invest in startups has recently invested Rs 15 Crores in NOTO Ice Cream. 

“At NOTO, Eating, Not Cheating is at the heart of everything we do - we serve desserts that are guilt-free and full of flavour. This funding fuels our expansion into Tier 1 and Tier 2 cities and paves the way for more NOTO-riously good innovations. As we continue to redefine the ice cream experience, we’re excited to scale new heights. We appreciate IPV’s support in this journey,” said Varun Seth, Co-founder & CEO, NOTO Ice Cream.

NOTO Ice Cream has attracted a lot of attention, with noteworthy awards like "Product of the Year" for Chocolate Mini Bites, "Most Loved Brand on Social Media" and "Top Consumer Packaged Brand", and the title of "Best Vegan Ice Cream" for its Vegan Mango Raspberry flavour in the last 3 years.

“Health-conscious consumers often struggle between satisfying their sweet cravings and adhering to a healthier lifestyle. The existing options often compromise on taste or nutritional value, creating a gap in the market for truly guilt-free indulgence. 

NOTO ice cream is solving this problem with its unique flavours that don't compromise on either taste or nutritional values. At IPV, we are drawn to the startup’s commitment to addressing a real consumer need. 

Their vision to redefine desserts aligns with lots of Indians, making it a scalable startup with meaningful impact,” Vinay Bansal, Co-Founder of Inflection Point Ventures, said in a press release.

Higher disposable incomes and the growing use of quick commerce platforms are driving the market's shift towards premium, healthful, and inventive ice cream products, which is expected to see substantial growth. The Indian ice cream market, valued at ₹228.6 billion in 2023, is projected to reach ₹956 billion by 2032. 

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