NOTO, a low-calorie ice cream startup, has raised ₹21 crore in a pre-Series A funding round led by Equentis Angel Fund with an investment of ₹6 crore.
The round also saw participation from Inflection Point Ventures (IPV), JITO, Signal Ventures, and others.
The funds raised will be used to scale its production, expand distribution, launch offline stores, and forge strategic partnerships to expand its brand presence across key markets. The funds will also be used to introduce new product lines and bolster its omnichannel distribution strategy with the launch of its own ice cream parlours.
The company also plans to deepen its presence in Tier-1 and Tier-2 cities and further strengthen its footprint in the fast-growing quick commerce space to meet rising demand.
Varun Sheth, Co-founder and CEO of NOTO said, “The current closure of our ₹21 crore Pre-Series A round marks a significant milestone in our journey to redefine the healthy indulgence category in India. We take immense pride in having Equentis as a key partner, given their proven track record in the investment advisory space and strong capability to identify high-growth opportunities for their customers. With their expertise and strategic support, we look forward to scaling NOTO together and driving our next phase of growth.”
Manish Goel, Founder of Equentis Angel Fund, said, “Our investment in NOTO is a reflection of both the brand’s strong early-mover advantage and the founders’ strategic clarity. With a rapidly growing consumer base and a firm grip on the entire value chain, NOTO is well positioned to lead the healthy snacking revolution.”
Founded in 2019 by Varun Sheth and Ashni Shah, NOTO offers a range of low-calorie, no-sugar, and vegan ice creams and desserts, catering to the growing demand for healthier indulgences.
The brand has a presence in over 13 cities and more than 100 dark stores through food delivery platforms and quick commerce.
NOTO is backed by prominent investors, including Rainmatter, White Whale Partners, WEH Ventures, as well as notable individuals such as Bollywood actor John Abraham, Kunal Bahl, and Rohit Bansal.
