Premium ice cream brand Hocco raises Rs 115 crore at a valuation of Rs 2,000 crore

Premium ice cream brand Hocco has raised Rs 115 crore (about $13 million) in a fresh funding round led by long-time backer Sauce.VC, valuing the company at Rs 2,000 crore. 

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The round comes nearly four months after the company secured $10 million in its Series B financing led by the Chona Family Office and Sauce.VC. It had earlier raised $12 million in a Series A round at a valuation of Rs 600 crore ($70 million) in June 2024.

The latest capital will be deployed to expand manufacturing capacity, strengthen cold-chain infrastructure, develop new products, and extend Hocco’s footprint across India and select global markets. By the summer of 2026, Hocco aims to reach 3 lakh litres in daily production capacity, which would place it among the largest and most advanced ice cream production facilities in the country.

Founded in 2022 by the Chona family, Hocco has rolled out over 150 SKUs, including innovations such as BIX, a cake sandwich, and the Oh-Cone, a cone topped with a chocolate-coated ball. In June 2024, Hocco expanded Huber & Holly brand into packaged retail as its premium sub-brand, rolling out indulgent flavours such as Salted Caramel Popcorn, Pondicherry Vanilla, and Sicilian Pistachio. Initially available in parlours, these products have since moved into packaged retail.

Hocco distributes through retail outlets, quick commerce platforms, and travel-linked channels.

Ankit Chona, Managing Director, Hocco, said, “This funding allows us to move faster on the vision we’ve set for Hocco: to make quality ice cream that is exciting, innovative, and crafted to turn everyday moments into something special. Sauce.vc has been a long-time believer in our journey, backing us from the very start, and their continued support is a huge validation of what we’re building. With this capital, we’re doubling down on that idea and scaling it for many more consumers across India and beyond.”

Manu Chandra, Founder and Managing Partner of Sauce.VC, stated, “Ankit and his team are a rare combination of strong category know-how and unbridled ambition. They are keen to build Hocco into India’s most loved ice cream company, and we are excited to continue partnering with them on this journey from day zero.”