Go Zero Ice Cream, a 100% zero-sugar ice cream brand, successfully secured deal on Shark Tank India, impressing the sharks with its unique proposition and strong growth plans.
Founder Kiran Shah made an ask of ₹1 crore for 1% equity, valuing the brand at ₹100 crore.
He highlighted the brand’s market presence, holding a 30-40% share in the growing guilt-free ice cream segment and targeting India’s ₹30,000 crore ice cream market, specifically the mid-range segment.
After a competitive round of negotiations, the deal was closed with Aman Gupta, who invested ₹1 crore for a 1.5% stake in the company.
Shah emphasized choosing Aman as a strategic partner due to his expertise in the direct-to-consumer (D2C) space and his proven success in scaling startups.
Other sharks presented compelling offers, including Vineeta Singh, who proposed ₹50 lakh for 0.79% equity alongside ₹50 lakh in debt at 12% interest, and Anupam Mittal, who offered ₹2 crore for 5% equity, conditional on future funding rounds. While Kunal Bahl opted out due to an existing investment in NOTO Ice Cream, Peyush Bansal decided not to participate.
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Go Zero Ice Cream has demonstrated a strong growth trajectory, with its revenue rising from ₹2.5 crore in FY22 to ₹11.1 crore in FY23-24.
The company is on track to achieve ₹33 crore in revenue in FY24-25, having already generated ₹15 crore in the first half of the fiscal year. It plans to become EBITDA-neutral by Q1 FY25-26, with monthly sales projected to touch ₹5-6 crore.
The funding received through Shark Tank is expected to fuel Go Zero’s expansion and further strengthen its operations.
Founded in 2022, Go Zero Ice Cream offers a diverse range of products, including low-calorie, high-protein, and vegan ice creams, all made with plant-based sweeteners.
The brand aims to provide healthier dessert options to meet the growing consumer demand for guilt-free indulgence. Shah’s background in his family’s Apsara Ice Cream business has been instrumental in driving innovation and scaling the brand.
In June 2024, Go Zero raised $1.5 million in a follow-on pre-Series A funding round, backed by DSG Consumer Partners, Saama Capital, V3 Ventures, and angel investor Arjun Purkayastha.
