Ahmedabad-based ice cream brand Hocco has secured ₹100 crore (approximately $10.7 million) in its Series C funding round from existing investor Sauce.vc, founder and MD Ankit Chona confirmed. With this latest infusion, the company’s total funding has reached ₹481 crore, reinforcing its aggressive expansion strategy in India’s fast-growing ice cream market.
Previously, in May 2025, the company raised ₹115 crore from Sauce.vc along with the Chona family office. Following the current round, Hocco’s pre-money valuation has climbed to ₹2,500 crore (around $267 million), signaling strong investor confidence in its growth trajectory.
The company plans to deploy the newly raised capital to significantly enhance its manufacturing capabilities. Specifically, Hocco aims to scale its production capacity to 4 lakh litres per day, up from the existing 2.5 lakh litres. In line with this strategy, the brand has already operationalised a new production facility in Panipat this week. Moreover, it intends to establish another plant in South India next year to support regional demand. Additionally, Chona indicated that the company may explore contract manufacturing options as demand continues to outpace supply.
At the same time, Hocco continues to expand its geographic footprint across India. While it maintains a strong presence in North and West India, it has recently accelerated growth in markets like Telangana and Chennai through retail channels. Meanwhile, the company has strategically targeted Karnataka and West Bengal via quick commerce platforms. In contrast, Delhi NCR remains largely driven by a pushcart-based distribution model.
Currently, Hocco operates approximately 200 company-owned parlours and restaurants, which contribute about 5% to its total revenue. However, general trade dominates its revenue mix, accounting for nearly 75%, while quick commerce platforms such as Instamart, Blinkit, and Zepto generate around 20%. Furthermore, the company runs about 3,300 pushcarts and plans to scale this number to 5,000 by next summer to strengthen last-mile distribution.
Founded in 2023 by the Chona family, Hocco represents their re-entry into the ice cream segment after they sold Havmor to Lotte Confectionery in 2017 for ₹1,020 crore. Notably, the family launched Hocco after the expiration of a non-compete clause.
On the financial front, Hocco reported a revenue of ₹532 crore in FY26. However, it recorded an EBITDA loss ranging between 10% and 12%, translating to approximately ₹63 crore. Despite this, the company has significantly improved its profitability metrics.
Looking ahead, Hocco is targeting EBITDA breakeven in FY27, supported by a projected revenue of ₹900 crore. “As a percentage, we have more than halved our losses, and this year… We’ll probably try and break even on the EBITDA front (in the current financial year),” Chona said.
In addition to operational expansion, the company is actively preparing for a potential IPO within the next three years. To fuel its next phase of growth, Hocco also plans to raise a larger funding round of ₹400–500 crore from private equity investors.
Hocco’s latest funding round underscores its rapid rise in India’s competitive ice cream industry. By scaling production, expanding distribution channels, and leveraging quick commerce, the brand is positioning itself for sustainable growth. With IPO ambitions on the horizon and improving financial performance, Hocco is steadily moving toward becoming a dominant player in the FMCG and frozen dessert segment.
