Hocco: Innovating the Ice Cream Industry with Impressive Funding
Hocco has achieved a remarkable valuation of Rs 2,000 crore, which is more than $225 million. This funding arrives just shy of three months since the company secured $10 million during its Series B funding round, which was spearheaded by the Chona Family Office and Sauce.vc. Previously, in June of the previous year, the firm raised $12 million in its Series A funding round from the same investors, evaluating the company at Rs 600 crore or $70 million.
Strategic Use of Funds for Expansion
The latest round of financing will be allocated towards enhancing manufacturing capacity, bolstering cold-chain logistics, fostering new product innovation, and broadening its market presence across India and specific international locations. Hocco aims to achieve a daily production capacity of 3 lakh litres by the summer of 2026, positioning itself among the largest and most advanced ice cream manufacturing facilities in the country.
Hocco’s Product Offering
Founded by the Chona family, Hocco provides a diverse range of products available through retail stores, quick commerce platforms, and outdoor touchpoints. Its offerings encompass a variety of flavours, formats, and packaging tailored for daily consumption and contemporary retail environments. The brand has gained traction among consumers via its unique ingredients, appealing flavours, and effective distribution strategies.
Financial Performance and Industry Competition
Hocco reported a revenue of Rs 220 crore for FY25, although it chose not to disclose its loss figures. According to data from various startup intelligence platforms, the company generated a revenue of Rs 32.38 crore in FY24, facing a loss of Rs 20.23 crore. In this competitive landscape, Hocco is up against well-established players like Amul, Vadilal, and Hindustan Unilever (HUL), as well as modern ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, and NOTO Ice Cream.