Go Zero’s $1 Mn Pre-Series A funding round was led by Saama, along with DSG Consumer Partners and V3 Ventures
The funding round also saw participation from angel investors like Bombay Shaving Company’s Shantanu Deshpande, Reckitt Benckiser’s Arjun Purkayastha, among others
The zero sugar ice cream brand will use the fresh funds to expand its market reach, enhance production capacity, strengthen distribution network and launch more flavours
Zero sugar ice cream brand Go Zero on Tuesday (August 08) said it has raised $1 Mn in its Pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures.
The funding round also saw participation from angel investors, including Bombay Shaving Company CEO Shantanu Deshpande, Reckitt Benckiser’s Arjun Purkayastha, Sixth Sense Ventures founder and CEO Nikhil Vora, and Thrive CEO Krishi Fagwani.
Go Zero, founded in July 2022, manufactures zero-sugar, high-protein, and low-calorie ice creams. The startup claims to be focused on providing health-conscious consumers with alternatives to traditional sugar-laden ice creams.
Go Zero said it would use the fresh funds to expand its market reach, enhance production capacity, strengthen distribution network, and introduce more innovative flavours and product lines.
In a statement, the startup said it is focussing on taste, sweetness, and flavour to stand apart from its competitors in the crowded zero sugar ice cream market.
The startup claims that all its products are made with natural ingredients, without the use of any artificial flavours or preservatives.
“With this fundraise, we will look at expanding our presence in all major cities and on all ecommerce and qcommerce channels such as Swiggy, Zomato, Blinkit, Instamart, and Zepto. The funds will also be used for marketing and creating awareness about the Brand,” Shah said on the fund raise.
Go Zero competes with the likes of NIC, Get-A-Way and behemoths like Amul.
A study by Market Research shows that the Indian ice cream market size reached INR 194.1 Bn in 2022 and is estimated to reach INR 508.4 Billion by 2028 at a CAGR of 17.5% during 2023-2028.
The funding round comes a few months after NIC raised $11 Mn in a growth funding round led by Singapore-based venture capital (VC) firm Jungle Ventures.
