Ice Cream Maker Hocco Attracts INR 115 Cr in Fresh Funding Led by Sauce.vc

Hocco, an emerging player in India's ice cream industry, has secured INR 115 crore in a fresh funding round led by long-term investor Sauce.vc, pushing its valuation to INR 2,000 crore. The development comes less than three months after the company raised USD 10 million in its Series B round, which was also led by Chona Family Office and Sauce.vc. Prior to that, it had raised USD 12 million in a Series A round in June 2024 at a valuation of INR 600 crore.

The newly raised funds will be deployed towards expanding the company's manufacturing capacity, strengthening its cold chain and logistics network, investing in new product innovation, and extending its reach across India as well as select international markets. By summer 2026, Hocco aims to achieve a daily production capacity of 3lakh litres, a scale that would place it among the largest and most advanced ice cream manufacturing setups in the country.

Founded by the Chona family, Hocco operates across multiple channels including retail stores, quick commerce platforms, and out-of-home locations. Its portfolio covers a wide range of flavours and pack formats tailored for modern consumers.

Since its inception, the company has introduced more than 150 stock keeping units including innovations like BIX, a house-baked cake sandwich, and the Oh-Cone, a cone topped with a chocolate-coated ball.

In June 2024, Hocco launched a premium sub-brand called Huber & Holly, offering products such as Salted Caramel Popcorn, Pondicherry Vanilla, and Sicilian Pistachio. Initially available in select parlours, these offerings have since expanded into packaged retail formats.

Hocco recently announced that it closed FY25 with revenue of INR 220 crore, though it did not disclose its loss figures. According to data platform TheKredible, the company reported INR 32.38 crore in revenue with a loss of INR 20.23 crore in FY24.

The company faces competition from established players like Amul, Vadilal, and Hindustan Unilever, as well as newer brands including Walko Foods' NIC, Hangyo, Go Zero, and NOTO Ice Cream.