Move over Amul and Naturals—there’s a new ice cream king in town. Premium brand Hocco has just raised Rs 115 crore, shooting its valuation up to a jaw-dropping Rs 2,000 crore in less than two years since launch. That’s right—an ice cream startup that didn’t even exist before 2022 is now one of the hottest names in India’s FMCG space.
And if you think this is just another boutique dessert brand, think again. Hocco isn’t here to play small—it wants to become India’s most loved ice cream company and it already has the money, momentum, and muscle to get there.
The Funding Scoop
The latest round of Rs 115 crore comes just months after Hocco bagged $10 million (Rs 83 crore) in Series B funding from the Chona Family Office (the same family that built and sold Havmor Ice Cream) and Sauce.VC. Earlier in June 2024, it had raised $12 million at a Rs 600 crore valuation.
In less than a year, Hocco’s valuation has tripled. Investors clearly see something irresistible here—and it’s not just the flavours.
How Hocco Plans To Spend The Money
Hocco isn’t just about fancy packaging—it’s gunning for scale. With the fresh capital, the company plans to:
- Expand manufacturing to churn out 3 lakh litres of ice cream daily by 2026—making it one of India’s largest and most advanced ice cream factories.
- Strengthen cold-chain infrastructure so its products reach every corner of the country without melting profits.
- Double down on R&D for new flavours and formats.
- Go national and global, moving beyond parlours to packaged retail and exports.
In short, Hocco wants to be everywhere you think of ice cream.
What Makes Hocco Different
Founded in 2022 by Ankit Chona and family, Hocco has already launched 150+ SKUs. Some of its bold innovations include:
- BIX: a cake sandwich dessert that blurs the line between bakery and ice cream.
- Oh-Cone: a cone topped with a chocolate-coated ball, made for Instagram and indulgence.
- Premium retail line under Huber & Holly: featuring Salted Caramel Popcorn, Pondicherry Vanilla, and Sicilian Pistachio—luxury in a scoop.
And unlike traditional ice cream giants, Hocco has cracked quick commerce delivery, retail stores, and travel-linked distribution—ensuring its products are just a click or a pit stop away.
Investors Are Betting Big
Ankit Chona, MD of Hocco, says the mission is simple:
“We want to make quality ice cream that turns everyday moments into something special.”
Manu Chandra, Sauce.VC’s founder, is even more bullish:
“Ankit and his team combine deep know-how with massive ambition. They’re building Hocco into India’s most loved ice cream brand.”
When VCs call you their “day zero partner,” you know they’re betting on a billion-dollar future.
Why This Matters For India’s Ice Cream Market
India’s ice cream industry is at a tipping point. Consumers are trading up from plain vanilla to premium indulgences, and Hocco is perfectly positioned to ride that wave. With the Chona family’s proven Havmor playbook and a head start in innovation, Hocco could genuinely challenge incumbents like Amul, Kwality Walls, and Naturals.
If it executes right, Hocco isn’t just another dessert company—it could be India’s next FMCG unicorn.
The Big Question
With a Rs 2,000 crore valuation in just two years, Hocco is on a rocket ship. But can it sustain the heat as it scales? If it nails execution, distribution, and consumer loyalty, this might just be the startup that redefines ice cream in India.
So next time you grab a cone, don’t be surprised if it’s from a homegrown unicorn in the making.
