Description
NOTO is is a Healthy ice cream company which makes ice-creams that have Low Calories, Low Sugar and High Proteins. They have been able to achieve this without the taste being compromised.
Overview about NOTO:
NOTO is a Healthy ice cream company which makes ice-creams that have Low Calories, Low Sugar and High Proteins. As of date, it has 6 flavour variants and is being sold at around 55 stores in Mumbai in cups of 125 ml priced at INR 95. Blind taste tests have proved that the customers have been unable to differentiate between NOTO – A healthy option and other traditional ice-creams as compared to other competitors in the healthy ice-cream line that tend to taste different hence, disappointing customers who do not want to compromise on taste. Co-founder Varun Sheth has studied at the National Gourmet Institute, New York and has 7 years’ experience in the food industry and has previously founded 1tablespoon by Pizza Kitchen, a pizza QSR chain in Mumbai. Ashni Shah has design and entrepreneurial experience and has studied at Istituto Marangoni, Milan. NOTO has made Net sales of INR 11.5 Lakhs at 55% gross margins, from 3 months of operations and is available both online via Swiggy and in offline stores.
Details of the round –
NOTO is raising INR 70 Lakhs at an INR 6.3 Cr. pre-money valuation. The total ask from Lead Angels is INR 40 Lakhs.
The company already has a commitment for INR 30 Lakhs from three individual investors outside Lead Angels Network.
The minimum commitment towards the company is INR 5 Lakhs. In case commitments exceed the ask amount, allotment will be on “First come, First serve” basis.
