Hocco - the game changer

Premium ice cream brand Hocco Foods Pvt. Ltd. operated by the Ahmedabad based Chona family has raised Rs 115 crore ($13 million) in a fresh funding round led by existing backer Sauce.vc, taking the company’s valuation to Rs 2,000 crore ($225 million).

The raise underscores the pace at which Hocco has been rewriting the rules of India’s ice cream market. In less than 2 years, the company has gone from launch to becoming one of the most exciting players in the category, winning over consumers with quality, innovation, and a modern approach to distribution.

“The funding allows us to move faster on the vision we have set for Hocco; to make quality ice cream that is exciting, innovative and craft it to make everyday moments into something special”. - Ankit Chona, founder and managing director of Hocco.

The fresh proceeds will be used towards expanding manufacturing capacity, strengthening cold-chain and logistics, scaling new product innovation, and extending its footprint across India and select global markets.

By summer 2026, Hocco plans to reach 3 lakh litres plus in daily production capacity, making it one of the largest and most advanced ice cream manufacturing setups in the country.

The funding comes less than three months after the firm raised $10 million in its Series B round led by Chona Family Office and Sauce vc. It had also raised $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million) in June last year.

Founded by the Chona family, Hocco offers products across retail stores, quick commerce platforms, and out-of-home touchpoints. Its product line includes various flavours, formats, and packs designed for everyday use and modern retail channels.

Hocco has built traction among consumers across retail, quick commerce, and travel-linked outlets through its ingredients, flavours, and distribution models.

Since its launch the brand has raised its manufacturing capacity from 15000 litres per day in 2023 to around 1.4 lakh litres per day at its single plant in Gujarat. In the coming summer of 2026 the company plans to raise its manufacturing capacity to 3 lakh litres per day. The company also plans to add another plant in North India by 2026 which will increase its capacity by another 2.2 lakh litres per day.

Hocco recently said it closed FY25 with revenue of Rs 220 crore, a six fold increase YoY. However, it did not comment on its loss numbers. According to startup data intelligence platform TheKredible, the company reported revenue of Rs 32.38 crore in FY24 with a Rs 20.23 crore loss.

For the current fiscal year, the firm aims to double its revenue to 450 crores and aims to touch 800 crores revenue by next year.

The Chona family re-entered in the icecream business with Hocco after selling their 73 year old Havmore brand to South Korea’s Lotte for around $150 million in 2017.

Besides legacy players such as Amul, Vadilal, and Hindustan Unilever (HUL), Hocco competes with new-age ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, NOTO Ice Cream, among others.

In just a few years, Hocco has emerged as a game-changer in the ice cream space, bringing together craftsmanship, innovation, and strong execution. From introducing new formats and flavours to building a modern distribution backbone, the company has re-energised the category and positioned itself as one of the most exciting consumer brands to watch.