Zero sugar ice cream brand Go Zero raises $1.5M in a pre-Series A round led by existing investors

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round led by existing investors DSG Consumer Partners, Saama, and V3 Ventures, among others.

The round also saw participation from notable angel investors such as Arjun Purkayastha.

"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," said Kiran Shah, Founder of Go Zero.

What are Go Zero offerings?

Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The brand has quickly captured the attention of health-conscious consumers seeking alternatives to typical high-fat/high-sugar ice creams.

Founder Kiran Shah brings extensive experience from the ice cream industry, having previously led his family business, Apsara Ice Creams, from 2014 to 2022.

Go Zero's market presence

The brand claims to have a presence in 16 cities and over 125 dark stores. It also claims Go Zero has become the #1 guilt-free ice cream brand on both quick commerce and e-commerce platforms in less than two years of launch.

"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," Shah said.

In FY23–24, Go Zero grew 4X compared to FY22–23 and an astonishing 7X growth on quick commerce in just five months this summer from January to May 2024.

Purpose of fundraising

With this round of funding, the startup will focus on expanding its growth in quick and e-commerce and reaching Tier 1 cities such as Jaipur, Chandigarh, and Ahmedabad.

Shah added, "We will also continue to launch exciting flavours and formats for our consumers throughout the year."

“We are incredibly excited to continue backing Kiran on his journey building India’s leading better-for-you indulgent ice-cream brand. The company’s immense revenue growth and profitability since our pre-seed investment last year is proof of Kiran’s product experience and the potential of India’s desserts market," said Ash Lilani, Founder & Managing Partner at Saama Capital.

Investors comment

Hariharan Premkumar, Managing Director, India at DSG Consumer Partners, said, “Healthy snacking is a core investment theme at DSGCP. We were excited to build a category-defining brand in guilt-free desserts with Kiran when we invested a year back. The phenomenal traction since launch has validated the customer need and size of the market opportunity. The company has achieved product-market fit and is set to scale rapidly. We are excited to deepen our partnership with the Go Zero team in the growth phase of their journey!”

Arjun Vaidya, Co-Founder, V3 Ventures, commented, “In <1 year, we have seen >10x growth in Go Zero. It speaks about the quality of execution by the team and the wave of better eating we are seeing in India. We are excited to double down to make more Indians enjoy their favourite dessert guilt free.”

Arjun Purkayastha, prominent angel investor and Regional CEO at a top MNC, remarked, “Extremely delighted to continue supporting Go Zero on its journey. Its rapid growth and innovative product offerings demonstrate significant potential to redefine healthy desserts. I believe in Kiran’s vision and am confident that Go Zero will continue to lead the way in the guilt-free ice cream category.”