Ice-cream brand Hocco has raised INR 100 crore in a new funding round led by Sauce VC. With this, the company is now valued at around ₹2,500 crore.
So far, Hocco has raised a total of about INR 450 crore. In the financial year 2026, it made sales of over INR 530 crore.
The company plans to use this new money to increase how much ice cream it can produce each day—from 2.5 lakh litres to 4 lakh litres.
Hocco has already started working at its new factory in Panipat and is also planning to open another factory in South India next year.
It may also consider contract manufacturing in the future, as demand has been higher than its current supply capacity.
Hocco is also working on expanding its reach beyond North and West India to cover more regions in the country.
Ankit Chona, MD & Founder, HOCCO Ice-Cream told businessline, “This fund raise is from Sauce.vc who have been backing us from the start. This is part of the larger Series C that we kickstarted last year valuing us at ₹2,500 crore. The proceeds will go into augmenting our capacities, expanding distribution, branding and marketing.”
“The revenue growth that we have seen in the past fiscal year has been higher than our expectations. Our target now is to get ₹900 crore by FY27-end but looks like we will cross the ₹1,000 crore mark. So we are almost going to double our revenues. We also expect to be very close to achieving EBITDA breakeven,” he added.
Hocco was started in 2023 by the Chona family. Earlier, they owned Havmor Ice Cream, which they sold to South Korea’s Lotte Confectionery in 2017 for ₹1,020 crore.
After a required waiting period (non-compete) ended, Ankit Chona, who is from the third generation of the family, came back into the ice cream business and started Hocco.
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