Ice-cream maker GoZero raises Rs 30 crore from DSG Consumer Partners, others
ETtech
Synopsis
The funding round also saw participation by Boat founder Aman Gupta and Namita Thapar, executive director of Emcure Pharmaceuticals. The funds will be used to expand the supply chain, drive product innovation, and enhance brand growth.
By ETtech
New-age ice-cream maker GoZero has raised Rs 30 crore from existing investors DSG Consumer Partners, Saama Capital, and V3 Ventures.
The funds will be used to expand the supply chain, drive product innovation, and enhance brand growth.
With this, Go Zero has raised a total of $6 million to date. Before this round, it had raised $1.5 million in June last year.
Founded in 2022, Go Zero touts its products as being guilt free, citing their zero sugar and low-calorie features. It has a presence in cities such as Mumbai, Delhi, Pune, Bengaluru, and Hyderabad. The company currently has manufacturing units in Mumbai and Bengaluru and is planning to open a facility in the Delhi-NCR region.
Go Zero says it has recorded 5x revenue growth in its second year and 3x in the third. It also claims to have recorded its highest-ever sales in January this year, surpassing Rs 5 crore in revenue.
“The demand for ‘better-for-you’ products is no longer niche—it’s a mainstream shift. We are proud to lead this transformation in the guilt-free ice cream category with Go Zero. This fresh funding will accelerate our plans to bring healthier indulgence to more households across India,” said founder and chief executive Kiran Shah.
Mumbai-based Go Zero is aggressively expanding on quick-commerce platforms in tier I and tier II markets, with 80% of its revenue coming from the channel.
The ice cream market is still dominated by legacy brands such as Amul, Mother Dairy, Havmor, Baskin Robbins, and Cream Bell, which cater to the mass segment. However, this has also created opportunities for emerging brands to carve out niche markets as they enter the space. Some of these brands are Noto, Get A Way, Frubon and Minus 30.
Commenting on the investment, Hariharan Premkumar, managing director, India, at DSG Consumer Partners, said, “The exceptional consumer response since our initial investment has far surpassed our expectations, underscoring the enormous opportunity in guilt-free indulgence.
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The funding round also saw participation by Boat founder Aman Gupta and Namita Thapar, executive director of Emcure Pharmaceuticals. The funds will be used to expand the supply chain, drive product innovation, and enhance brand growth.
With this, Go Zero has raised a total of $6 million to date. Before this round, it had raised $1.5 million in June last year.
Founded in 2022, Go Zero touts its products as being guilt free, citing their zero sugar and low-calorie features. It has a presence in cities such as Mumbai, Delhi, Pune, Bengaluru, and Hyderabad. The company currently has manufacturing units in Mumbai and Bengaluru and is planning to open a facility in the Delhi-NCR region.
Go Zero says it has recorded 5x revenue growth in its second year and 3x in the third. It also claims to have recorded its highest-ever sales in January this year, surpassing Rs 5 crore in revenue.
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“The demand for ‘better-for-you’ products is no longer niche—it’s a mainstream shift. We are proud to lead this transformation in the guilt-free ice cream category with Go Zero. This fresh funding will accelerate our plans to bring healthier indulgence to more households across India,” said founder and chief executive Kiran Shah.
Mumbai-based Go Zero is aggressively expanding on quick-commerce platforms in tier I and tier II markets, with 80% of its revenue coming from the channel.
ADVERTISEMENT
The ice cream market is still dominated by legacy brands such as Amul, Mother Dairy, Havmor, Baskin Robbins, and Cream Bell, which cater to the mass segment. However, this has also created opportunities for emerging brands to carve out niche markets as they enter the space. Some of these brands are Noto, Get A Way, Frubon and Minus 30.
Commenting on the investment, Hariharan Premkumar, managing director, India, at DSG Consumer Partners, said, “The exceptional consumer response since our initial investment has far surpassed our expectations, underscoring the enormous opportunity in guilt-free indulgence.
ADVERTISEMENT
