Tuesday, July 23, 2024

Go Zero Raises $1.5M to Expand Ice Cream Brand

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Ice cream brand Go Zero has successfully raised $1.5 million in a follow-on pre-Series A funding round. This round was led by existing investors DSG Consumer Partners, Saama, and V3 Ventures, with participation from notable angel investors like Arjun Purkayastha.

Founder’s Vision and Growth

Kiran Shah, the founder of Go Zero, stated, “I started Go Zero with a simple mission – to make ice creams and desserts healthier and guilt-free for all. The growth we’ve seen in the past 12 months has been phenomenal and proves that there is a strong demand for ‘better for you’ ice creams that taste really good.”

Go Zero’s Offerings

Founded by Kiran Shah, Go Zero offers a variety of ice creams, including low-calorie, high-protein, and vegan options. These products cater to health-conscious consumers looking for alternatives to traditional high-fat and high-sugar ice creams. Shah brings extensive experience from his family business, Apsara Ice Creams, which he led from 2014 to 2022.

Market Presence

Go Zero claims to be present in 16 cities with over 125 dark stores. It has quickly become the #1 guilt-free ice cream brand on both quick commerce and e-commerce platforms in less than two years since its launch. The brand has experienced significant growth, particularly on quick commerce platforms like Blinkit and Zepto, where it saw a 7X growth from January to May 2024.

Use of Funds

The new funding will be used to expand Go Zero’s presence in quick commerce and e-commerce markets, particularly in Tier 1 cities like Jaipur, Chandigarh, and Ahmedabad. Shah also mentioned plans to introduce new flavors and formats throughout the year to keep consumers excited.

Investor Confidence

Investors expressed strong confidence in Go Zero’s potential. Ash Lilani, Founder & Managing Partner at Saama Capital, praised Kiran’s product experience and the startup’s rapid revenue growth and profitability. Hariharan Premkumar, Managing Director, India at DSG Consumer Partners, highlighted the company’s validation of customer needs and market opportunity.

Arjun Vaidya, Co-Founder of V3 Ventures, noted Go Zero’s impressive growth and the increasing demand for healthier eating options in India. Angel investor Arjun Purkayastha, Regional CEO at a top MNC, emphasized his continued support for Go Zero, citing its innovative products and rapid growth.

With this funding, Go Zero is set to strengthen its position as a leading guilt-free ice cream brand, offering healthy and delicious options for dessert lovers across India.

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