NOTO Ice Creams Raises Rs 21 Crore In Pre-Series A From Equentis Angel Fund

Last Updated:April 14, 2025, 15:18 IST

NOTO Ice Creams raised Rs 21 crore in Pre-Series A funding led by Equentis Angel Fund to scale production, expand distribution, and launch offline stores. Founded in 2019, NOTO offers low-calorie, no-sugar, and vegan desserts.

Founded in 2019 by Varun Sheth and Ashni Shah, NOTO has emerged as a brand in the guilt-free dessert segment.

NOTO Ice Creams and Desserts has announced the successful close of its Rs 21 crore Pre-Series A funding round. The round was led by Equentis Angel Fund, which emerged as the largest investor with an investment of Rs 6 crore. Other investors in the round include Inflection Point Ventures (IPV), JITO, Signal Ventures, and others.

This marks NOTO’s largest funding round to date and will support the company’s plans to scale production, expand distribution, launch offline stores, and forge strategic partnerships to strengthen its brand presence across key markets.

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 brand has rapidly gained traction among health-conscious consumers and witnessed impressive growth through food delivery platforms and quick commerce. With a strong presence in over 13 cities and more than 100 dark stores, NOTO is now actively expanding into new markets.

Founded in 2019 by Varun Sheth and Ashni Shah, NOTO has emerged as a brand in the guilt-free dessert segment. The company offers a range of low-calorie, no-sugar, and vegan ice creams and desserts, catering to the growing demand for healthier indulgences. NOTO is backed by prominent investors including Rainmatter, White Whale Partners, WEH Ventures, as well as notable individuals such as John Abraham, Kunal Bahl, and Rohit Bansal.

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, commented: “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.”