NOTO, a Mumbai-based ice-cream brand that makes healthy, low-calorie, low sugar, and high-protein ice-cream, announced that it has raised an undisclosed round of funding in a pre-Seed round led by WEH Ventures, with participation from Lead Angels.
The company will utilise the current financing for the acceleration of its marketing operations while it continues to grow at exponential rates. The company plans to strengthen its current base by launching more flavours, and eventually take the product to other cities in the country.
Founded in 2019 by Varun and Ashni Sheth, NOTO was born with the aim of revolutionising the way people consume ice creams and sweets in our country.
Commenting on the startup, Ashni and Varun Sheth, Co-founders at NOTO, said, “As Indians, we love our sweets. Eating desserts post-dinner is very common in most households. What has seen a paradigm shift over the years has been the growing urge to eat healthy and control what’s on the plate. Therefore, as consumers started getting conscious and reading ingredients on the labels, we observed a wide gap between their expectations and availability of products in the market. That is when we started NOTO to help them make smarter and more informed choices in their daily lives.”
Commenting on the fundraise the duo said, “We are glad to have WEH Ventures and Lead Angels on our side. Their deep connections in the ecosystem and years of expertise in the consumer brands business will help us massively scale up our business. Looking forward to receiving continued mentorship and fruitful advice.”
Rohit Krishna, General Partner, WEH Ventures said “The growing awareness about living and eating healthy in modern upscale India presents a wide platform of opportunities for players like NOTO. While there are a lot of healthier alternatives in the snacking and beverage space, no one has yet taken the mantle to make desserts healthier. With this context in mind, we decided to invest in NOTO and are extremely glad to be partners in their next phase of growth.”
Mumbai-based WEH Ventures has become a go-to destination for founders looking to raise their first institutional round of funding. The VC firm invests in a range of sectors: Fintech, Education, Content, Commerce, Healthcare/Lifestyle, Software, Emerging brands and Emerging tech.
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