Ice-cream brand HOCCO has secured Rs. 115 crores in the second tranche of its Series B funding round, pushing its valuation to Rs. 2,000 crore, the company said. The round was led by venture capital firm Sauce VC and comes four months after HOCCO raised USD 10 million (around Rs. 85 crore) in the first tranche.
Founded in 2022 by the Chona family, HOCCO plans to use the fresh capital to expand manufacturing, enhance working capital, and deepen market penetration. The company is setting up a new plant in Sonipat, doubling capacity at its Gujarat facility, deploying defreezers across key markets, and widening its geographic reach. HOCCO currently operates in Delhi, Uttar Pradesh, Maharashtra, Chhattisgarh, Telangana, and Punjab.
“Our summer numbers have played a major role in this valuation jump,” said Ankit Chona, founder and MD, HOCCO. “We had targeted Rs. 400 crores in revenue this year, but we are now on track to surpass Rs. 500 crores, with next year looking promising for Rs. 700 crores. These numbers have exceeded anything we imagined in our first two years of operations.”
HOCCO closed FY25 with Rs. 220 crores in revenue and expects to exceed Rs. 300 crores in H1 FY26. The brand generates roughly 80% of its sales from general trade, with quick commerce platforms contributing 15%. Chona anticipates e-commerce will account for 25% of total sales in the coming years.
“The scale of our growth has accelerated our capital expenditure plans,” Chona added. “What we originally expected to achieve in three to five years, we have managed in two, now operating two plants with a combined manufacturing capacity of five lakh litres per day.”
The Series B infusion is expected to bolster HOCCO’s manufacturing capabilities and support its rapid expansion across India’s growing ice-cream market.