- Founder: Kiran Jayant Shah
- Business: Ice Cream
- Ask: ₹1 Crore for 1% Equity
- Valuation/ Networth: ₹100 Crores
- Funding: ₹1 Crore for 1.5% Equity
- Sharks: Aman Gupta
- Pitch: Youtube
- Episode: Season 4 Episode 3
GO ZERO Shark Tank India Pitch:
launched in 2022, Go Zero is an Indian startup which appeared on Shark Tank India Season 4 Episode 2. It is a zero-sugar ice cream and dessert brand. They currently have over 30 flavours across 8 categories. The founder sought an investment of ₹1 Crore for 1% equity valuing the business at ₹100 Crores.
Go Zero’s top-selling flavour is Belgian dark chocolate. The company makes all its products with a proprietary sugar replacement blend. This also allows the products to have 50% fewer calories than regular ice cream.
Go Zero makes 70% of its revenue from quick commerce. The founder shared that in just two years, Go Zero has become India’s number 1 guilt-free ice cream brand. He added that their unique selling proposition is that they are the only 100% zero sugar brand. The company has a 30-40% share in the guilt-free ice cream category. Not only that, this category is also growing twice as fast as the regular Ice Cream market.
GO ZERO’s Financials & Revenue during Shark Tank India:
Go Zero’s founder shared that the ice cream market is divided into three segments. The first one is the mass market brand which is below ₹40 value. Second is the mass premium brands market which ranges from ₹80-120, he added that Go Zero falls under this category. The third segment is premium brands which is above ₹120.
The brand was launched in July 2022 and they made a revenue of ₹2.5 Crore in their first financial year. This was followed by ₹11.1 Crores in FY23-24. As for the current year, The company has made a revenue of ₹15.1 Crores till September 2024 and they are projecting to close FY24-25 at ₹33 Crores. Notably, the company is at loss of 15% on the EBITDA level.
For unit economics, COGS & transportation take 30% of revenue leaving them with a gross margin of 70%. Mid-mile transportation & warehouse costs take another 20% leaving them with 50% CM1. They spend 55% on marketing & promos leaving them with -5% CM2. They would close this year with -15% EBITDA.
The company makes ₹2 Crores in net revenue just on quick commerce but their gross sales are at ₹4.5-₹5 Crores. The brand was spending 30% on marketing in summer 2024 but now they have scaled that down to 21%. He added that they have a 70% market share on quick commerce in their category.
They raised their first funding round in Jan 2023 where they raised ₹8.5 Crores at a valuation of ₹25 Crores pre-money. They raised the second round in Jan 2024 from the same investors where they raised ₹12 Crores at a pre-money valuation of ₹63 Crores so total valuation of ₹75 Crores post money.
GO ZERO Shark Tank India Negotiations & Funding:
Vineeta gives the first offer of ₹50 Lakhs for a 0.79% stake in the company and the rest as debt at 12% for 3 years. Anupam offered ₹2 Crores for 5% of the company with a condition that the founder needs to raise another round of at least ₹10 Crores. Kunal went out due to a conflict of interest with his other investment. Peyush went out because he said it could be difficult to recover the losses if things keep going the way they are.
Aman also jumped in and offered ₹1 Crore for 2% equity in the company. The founder countered him with 1.5% for ₹1 Crore and Aman accepted that counter. They shook hands on ₹66.67 Crore valuation.
Who is the founder of Go Zero?
Kiran Jayant Shah founded Go Zero. He is from Mumbai, India. His family has been running an ice-cream business for 50 years. He joined the business in 2014 and have since scaled it from 1 store to 100 stores.
The founder’s family business is called Apsara Ice Creams which has been in operation since 1971. Kiran graduated with a degree in electronics engineering from Bombay University. He did a MBA from IIM Lucknow in 2011.
How is Go Zero doing after Shark Tank India?
Our research in the Go Zero revealed that while they did get a deal on Shark Tank India, whether that deal closed post-show is still unclear. we will update this article once more information comes to light but in the meantime, You can check out their products by clicking the Amazon button below!
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