Noto Ice Cream has raised 15 crore rupee (US$40.84 million) in a funding round led by Inflection Point Ventures (IPV), with JITO and Lets Venture also participating.

The funds will be used for expansion into tier 1 and tier 2 cities, developing new summer flavors, and enhancing marketing on food delivery platforms.

Founded in 2019 by Varun Sheth and Ashni Shah, Noto operates in cities like Mumbai, Delhi, Bangalore, and Hyderabad.

It plans to expand to Ahmedabad, Kolkata, and Lucknow.

The brand specializes in low-calorie, low-sugar ice cream for health-conscious consumers and is available on platforms such as Swiggy, Zomato, Zepto, Blinkit, and Flipkart.

The Indian ice cream market, valued at 228.6 billion rupee (US$6.21 billion) in 2023, is expected to grow as consumers increasingly favor healthier, premium options.