GoZero, a new-age ice cream brand, raises ₹30 crore in its Series A funding from DSG Consumer Partners, Saama Capital, and V3 Ventures, with participation from Aman Gupta (boAt) and Namita Thapar (Emcure Pharmaceuticals). Founded in 2022, GoZero specializes in zero-sugar, low-calorie ice creams, targeting health-conscious consumers. The funds will enhance supply chain operations, product innovation, and brand expansion. Operating in Mumbai, Delhi, Pune, Bengaluru, and Hyderabad, GoZero has manufacturing units in Mumbai and Bengaluru. The brand has seen remarkable growth, recording 5x revenue in its second year and 3x in its third year, with ₹5 crore in sales in January 2025. Competing with Amul and Mother Dairy, GoZero is aggressively expanding in Tier I and II cities via quick-commerce platforms like Blinkit, Zepto, and Swiggy Instamart. With this round, total funding reaches $6 million, following a $1.5 million raise in June 2024.
1. GoZero: A Disruptor in India’s Ice-Cream Market
1.1 Business Model and Revenue Strategy
GoZero operates on a direct-to-consumer (D2C) model, focusing on online sales through e-commerce platforms like Swiggy, Zomato, and quick-commerce channels. The company also leverages retail partnerships in major metropolitan areas. Revenue generation primarily stems from its premium pricing strategy, targeting health-conscious consumers who prioritize zero-sugar, low-calorie, and high-protein dessert options.
1.2 Founders and Their Vision
Founded by Kiran Shah in 2022, GoZero aims to revolutionize the Indian ice-cream market by providing guilt-free indulgence. Shah, a seasoned entrepreneur with expertise in the food and beverage sector, recognized the growing demand for healthier alternatives to traditional desserts. His vision for GoZero is to make sugar-free ice cream mainstream while maintaining exceptional taste and texture.
1.3 Products and Market Presence
GoZero’s product line includes:
- Zero-sugar ice creams with 50% fewer calories
- High-protein options for fitness enthusiasts
- Vegan alternatives catering to plant-based diets
The brand is available in Mumbai, Delhi, Pune, Bengaluru, and Hyderabad. It has two manufacturing units and plans to establish another in Delhi-NCR.
2. The Funding Journey of GoZero
2.1 Series A Funding Breakdown
GoZero recently raises ₹30 crore (approximately $3.4 million) in its Series A round from existing investors DSG Consumer Partners, Saama Capital, and V3 Ventures. Additional participation came from Aman Gupta and Namita Thapar. Prior to this, GoZero had raised $1.5 million in June 2024, bringing its total funding to $6 million.
2.2 Utilization of Funds
The newly acquired capital will be allocated to:
- Expanding supply chain capabilities for broader reach
- Innovating new product lines like kulfi sticks and cassata
- Strengthening brand presence in Tier I and Tier II markets
3. Growth and Market Trends
3.1 Revenue Milestones
GoZero’s revenue trajectory has been remarkable:
- 5x revenue growth in the second year
- 3x growth in the third year
- Highest-ever sales in January 2025, surpassing ₹5 crore
3.2 Competitive Landscape
The ice cream sector in India is dominated by legacy brands such as Amul, Mother Dairy, and Baskin Robbins. However, niche brands like GoZero, NOTO, Get-A-Way, and Frubon are gaining traction among urban consumers. NIC Ice Cream secured $11 million in 2023, while Hocco raised $12 million. Hangyo Ice Cream received India’s largest venture funding in the space, with $25 million from Faering Capital.
3.3 Consumer Trends Driving Growth
- Rising health awareness: Consumers seek low-calorie, sugar-free alternatives.
- Increase in disposable income: Demand for premium products is rising.
- Growth of quick-commerce: Platforms like Blinkit and Zepto fuel rapid sales.
4. Learning for Startups and Entrepreneurs
4.1 Focus on Niche Markets
Startups should identify gaps in traditional industries and offer innovative solutions. GoZero’s success stems from targeting the underexplored sugar-free ice cream market.
4.2 Leveraging Quick-Commerce Platforms
Quick-commerce is becoming a dominant distribution channel for food brands. Partnering with platforms like Zepto and Blinkit accelerates growth and ensures wider reach.
4.3 Consumer-Centric Product Development
Understanding and adapting to evolving consumer preferences is crucial. GoZero’s emphasis on zero-sugar, high-protein, and vegan options aligns with current health trends.
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