Cold Love raises Rs 2.5 Cr in angel round
Cold Love, an ice cream brand, announced that it has raised Rs 2.5 crore in angel funding over two rounds.
Established by Aditya Tripathi, the company makes artisanal, all-natural ice cream.
The two angel rounds saw participation from individual investors, including Tarun Sawhney, Vice Chairman and MD, Triveni Engineering and Industries Ltd, and Samir Sood, Founder of Venture Highway, a technology-focused seed fund.
Some of the freshly raised funds have already been utilized to set up the company’s commissary, establishing company-owned cafés, and on digital marketing.
Commenting on the investment, Tarun Sawhney, one of the first investors in the brand said, “We are thrilled to be associated with a home-grown artisanal ice-cream brand like Cold Love. Despite the pandemic, the company has made tremendous progress over the last 18 months, and the hybrid business model offers tremendous potential for significant growth going forward.”
Samir Sood said, “Besides being a regular customer, I have been engaging closely with the team since they first began the company, and have been very excited by the progress they have made so far.”
Known for its unique flavors, such as Salted Butter Caramel and Boozy Baileys, and perennial favorites like Chocolate Fudge-a-Licious and Fresh Mango, Cold Love also offers sugar-free, dairy-free, and vegan ice cream.
The company has also collaborated with Michelin-starred Chef Suvir Saran for a line of Cold Love desserts.
Speaking about the funding, Aditya Tripathi, Managing Director, Cold Love added, “Having grown steadily over the last year and a half, we want to become India’s first national artisanal ice cream brand, recognized for both our quality and the unique formulations of our ice cream. With this funding, we will be looking at setting up more Cold Love Cafés and expanding our D2C reach into different cities across India.”
The brand has four cafes in Delhi-NCR and one in Jodhpur. It is looking to open 20-25 outlets in Delhi-NCR and beyond shortly. It also provides home delivery in Delhi-NCR, Hyderabad, Jaipur, and Lucknow, with plans to expand to at least 10 cities very soon.
Cold Love seems to have established a strong footprint in the Delhi-NCR region with its innovative approach. I’m sure the company will soon emerge as a strong player in other regions too. My best wishes to the team of Cold Love.Shishir Gupta, Founder and CEO, StartupLanes
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