NOTO Raises Rs 21 Cr for Expansion

New Delhi, Apr 14 (PTI) Ice cream brand NOTO has raised Rs 21 crore in a pre-series A funding round led by Equentis Angel Fund and plans to use the fresh capital to scale production, expand distribution, launch offline stores, and forge strategic partnerships to strengthen its brand presence across key markets.

This follows the Mumbai-based startup's Rs 15 crore fundraise in February this year.

The round also saw participation from Inflection Point Ventures (IPV), JITO, Signal Ventures, and others.

"The latest infusion of funds will enable NOTO 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," the company said in a statement.

NOTO, "a healthy ice cream brand", is backed by investors like Zerodha's Rainmatter, White Whale Partners, WEH Ventures, Snapdeal's Kunal Bahl and Rohit Bansal, and Bollywood actor John Abraham.

Founded in 2019 by Varun Sheth and Ashni Shah, NOTO offers a range of low-calorie, no-sugar, and vegan ice creams and desserts.