Mumbai-based NOTO, the dessert startup making indulgence less sinful, has just scooped up Rs 21 crore in a pre-Series A round led by Equentis Angel Fund. The round also pulled in participation from Inflection Point Ventures, JITO, Signal Ventures, and a host of other angel backers—just months after NOTO raised Rs 15 crore in February this year.
The company plans to channel the fresh capital into scaling its production capabilities, expanding retail reach, and launching its own exclusive offline stores. NOTO is also looking to tie up with key players in the distribution game, especially in fast-growing urban markets and the quick commerce space.
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“The momentum from our last fundraise has continued to build,” said founders Varun and Ashni Sheth. “This funding gives us the muscle to widen our portfolio and bring healthy desserts to more people across India—without compromising on taste.”
Launched in 2019, NOTO’s lineup includes low-calorie, vegan, and no-added-sugar ice creams and desserts. The brand caters to health-conscious consumers who want guilt-free treats, and it’s carved a niche in India’s fast-evolving premium health food market.
It has also managed to attract heavyweight investors over time, including Zerodha’s Rainmatter, White Whale Partners, WEH Ventures, Snapdeal’s Kunal Bahl and Rohit Bansal, and Bollywood actor John Abraham—himself a fitness enthusiast and investor in the wellness space.
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With India’s F&B industry expected to hit $68 billion by 2030 and grow at a 25% CAGR, and with brands like Go Zero and Hocco making waves, NOTO’s sweet ride looks far from over.
