Go Zero, an ice cream brand dedicated to offering guilt-free delights, has raised $1.5 million in its follow-on pre-Series A funding round. This round saw support from the same investors who had backed the brand last year, that is, DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors, such as Arjun Purkayastha.
Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. Currently present in 16 cities and over 125 dark stores, Go Zero claims to have become the #1 guilt-free ice cream brand on both quick commerce and e-commerce platforms in less than 2 years of launch. In FY23–24, Go Zero claims to have grown 4X compared to FY22–23 and an astonishing 7X growth on quick commerce in just 5 months this summer from January to May 2024.
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Kiran Shah, Founder, Go Zero, said, “I started Go Zero with a simple mission: to make ice creams and desserts healthier and guilt-free for all. The growth that we have 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. We have become one of the fastest-growing ice cream brands on quick commerce platforms such as Blinkit and Zepto, which I feel are going to become a key channel for the ice cream category as people seek convenience and instant gratification.”
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He further added, “With this round of funding, we will look to continue our exponential growth in quick and e-commerce, along with expanding to Tier 1 cities such as Jaipur, Chandigarh, and Ahmedabad. We will also continue to launch exciting flavors and formats for our consumers throughout the year.”
Founder Kiran Shah previously led his family business, Apsara Ice Creams, from 2014 to 2022. Under Kiran’s leadership, Apsara expanded from a single-store operation to a nationwide chain with over 100 outlets. Leveraging this family legacy and industry expertise has enabled Kiran and the Go Zero team to achieve exponential growth within just two years of the brand’s launch.
Several D2C brands in sectors such as food and beverages, apparel, and health and wellness, founded by families with traditional businesses in similar categories, are attracting significant venture capital funding. Investors believe that these entrepreneurs, with their inherent business understanding and deep-rooted connections in supply chain ecosystems, are uniquely positioned to launch contemporary versions of legacy businesses. Go Zero aims to become a dominant player in the burgeoning Indian ice cream market, which in 2023 was valued at over $3 billion with a projected CAGR of 13.49 per cent from 2024 to 2030.
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