Wednesday, 19 June 2024, Bengaluru, India
Go Zero is an ice cream startup that secured $1.5 million in its follow-on pre-series A round. This funding round had participation from various angel investors and was led by V3 Ventures, Saama, and DSG consumer partners. This ice cream startup offers variety of products including low-calorie, vegan ice creams, and high-protein ice creams. The brand uses plant-based sweeteners to add sweetness which is low in calories.
The startup currently operates in 16 cities with more than 125 physical stores across the country. The company offers its services through both e-commerce and quick-commerce platforms. Go Zero reported four times growth for this financial year and a seven times increase in its quick commerce within 5 months. The startup previously raised 1 million USD in its pre-series A funding round led by Saama, V3 Ventures, and DSG Consumer Ventures.
The founder of Go Zero, Kiran Shah mentioned that they are planning to grow while expanding in tier 1 cities including Chandigarh, Jaipur, and Ahmedabad. The brand also aims to launch new flavors and formats for its customers using this fund. The co-founder of V3 Ventures, Arjun Vaidya mentioned that they have seen a ten-time growth in Go Zero and they are excited to work with the brand to make it widely known. The investment shows the trust of investors in the market potential of this startup.
The company plans to use this fresh capital to expand its network to, meet public demands, general corporate purposes, improve its platform, and advance its technology. The firm competes with other ice cream startups including NIC and Hocco. Go Zero aims to become a key player and solidify its position in the Indian icecream market. This sector is valued at more than $3 billion and is predicted to grow at a CAGR of 13.49 percent by 2030.
Conclusion
Ice cream startup, Go Zero secured $1.5 million in its follow-on pre-series A funding round. This round had participation from various angel investors and was led by V3 Ventures, Saama, and DSG consumer partners. The company previously raised $1 million in its pre-series A funding round led by Saama, V3 Ventures, and DSG Consumer Ventures. The firm is planning to grow while expanding its network in tier 1 cities including Chandigarh, Jaipur, and Ahmedabad. The brand is also aiming to launch new flavors and formats for its customers using this fund. The company offers its services through both e-commerce and quick-commerce platforms.
Go Zero reported four times growth for this financial year and a seven times increase in its quick commerce within 5 months. The firm competes with other ice cream startups, including NIC and Hocco. NIC recently secured $11 million in its funding round from Jungle Ventures, while Hocco secured $12 million from its existing and new investors, including the Chona family. The company showed four times growth for this financial year and a seven times increase in its quick commerce within 5 months.
