John Abraham, others invest Rs 4 crore in icecream maker NOTO

Actor John Abraham and a clutch of venture capital (VC) funds have invested Rs 4 crore in NOTO, the low-calorie and high-protein icecream brand said on Tuesday.

The VC funds, who have invested alongside the actor in the pre-Series A round, include Titan Capital, Rockstud Capital, and WEH Ventures, an official statement said adding that some angel investors also participated.

Founded by the couple Varun and Ashni Sheth in 2018, the brand will invest the money raised in geographical expansion, product development and hiring talent, the statement said.

"After our investment in sport, Priya (wife) and I are identifying health and fitness businesses that have growth potential as well as which align with our lifestyle, and NOTO is one such business.

"We see NOTO as the leading healthy ice cream in the industry with strong promoters and on-point branding," Abraham said.

The brand claims each 125 ml tub has only 75-95 calories, 3 grams of fat, 75 per cent less sugar, and higher protein than traditional ice creams. It has served 5 lakh units to over 30,000 customers till now.