HOCCO Raises ₹115 Crore, Valuation Hits to ₹2000 Crore

Ice cream startup HOCCO has secured ₹115 crore in a fresh funding round led by long time investor Sauce.vc, taking its valuation to an impressive ₹2,000 crore. Launched in 2022 by the Chona family, the brand has quickly become one of the fastest growing players in India’s ice cream market, thanks to its focus on quality products, modern branding and strong distribution.

Fast Expansion Across India

In just two years, HOCCO has established a presence across major states such as Delhi, Uttar Pradesh, Maharashtra, Chhattisgarh, Telangana and Punjab. The company is now preparing to widen its footprint even further by increasing production and improving supply systems. A new manufacturing plant is being set up in Sonipat, while capacity at its Gujarat facility is being doubled. HOCCO is also deploying more freezers in key outlets to boost availability across markets.

Strong Sales and Growth Targets

The company has shown impressive financial performance, closing FY25 with ₹220 crore in revenue. It now expects to cross ₹300 crore in just the first half of FY26. Earlier, HOCCO had aimed for ₹400 crore in annual revenue, but it is now confident of crossing ₹500 crore, and possibly even touching ₹700 crore next year. A large share of its business currently comes from general trade, while quick commerce contributes around 15 percent. Over time, HOCCO expects e-commerce to account for a quarter of its overall sales.

Focus of the New Investment

The freshly raised capital will be used to expand manufacturing, strengthen cold chain logistics and support the launch of new products. The company also plans to deepen its presence in quick commerce platforms, modern retail stores and travel linked touchpoints such as airports and highways. By the summer of 2026, HOCCO expects to reach a manufacturing capacity of nearly three lakh litres per day, placing it among the most advanced ice cream producers in the country.

Vision for the Future

Managing Director Ankit Chona said that the investment gives the company a chance to move faster towards its vision of creating fun, high quality ice cream for everyday moments. He credited Sauce.vc for believing in the brand from the beginning and supporting its rapid rise. Sauce.vc’s founder, Manu Chandra, praised the HOCCO team for combining strong industry understanding with bold ambitions and said he looks forward to being part of its journey toward becoming India’s most loved ice cream company.