Ahmedabad | April 2026 — Ice cream startup Hocco has raised ₹100 crore in its Series C funding round from existing investor Sauce.vc, as it looks to scale production capacity and expand its footprint across India.
With this latest infusion, Hocco’s total funding has reached ₹481 crore, while its pre-money valuation has climbed to ₹2,500 crore, reflecting strong investor confidence in the fast-growing brand.
Capacity Expansion and New Plants
The company plans to use the fresh capital to:
- Increase manufacturing capacity from 2.5 lakh litres/day to 4 lakh litres/day
- Strengthen supply amid rising demand
A new plant in Panipat has already been operationalised, with another facility planned in South India next year. The company is also exploring contract manufacturing to bridge demand-supply gaps.
Aggressive Market Expansion Strategy
Ankit Chona, Founder and MD, highlighted a region-specific expansion approach:
- Strong presence in North and West India
- Growth in Telangana and Chennai via retail channels
- Expansion in Karnataka and West Bengal through quick commerce
- Delhi NCR driven largely by pushcart distribution
Omnichannel Sales Model
Hocco’s revenue mix reflects a diversified distribution strategy:
- 75% from general trade
- 20% from quick commerce platforms like Blinkit, Zepto, and Instamart
- 5% from ~200 company-owned parlours and restaurants
The company also operates 3,300 pushcarts, with plans to scale to 5,000 by next summer.
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Financial Performance and Profitability Roadmap
Founded in 2023, Hocco reported:
- ₹532 crore revenue in FY26
- EBITDA loss of 10–12% (~₹63 crore)
The company is targeting:
- ₹900 crore revenue in FY27
- EBITDA breakeven within the next financial year
Background and Future Plans
Hocco marks the Chona family’s return to the ice cream segment after selling Havmor to Lotte Confectionery in 2017 for ₹1,020 crore.
Looking ahead, the company is:
- Planning to raise ₹400–500 crore from private equity investors
- Preparing for a potential IPO within three years
Outlook
With strong backing, expanding infrastructure, and a hybrid distribution model combining traditional retail, quick commerce, and pushcarts, Hocco is positioning itself as a major challenger in India’s fast-growing ice cream market.
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