Ahmedabad-based ice-cream startup Hocco has raised Rs 115 crore in the second tranche of its Series B funding, pushing its valuation to nearly Rs 2,000 crore. The round was led by Sauce VC, just four months after the company mobilised around Rs 85 crore in the first tranche.
The fresh capital will be channelled into working capital, expansion of manufacturing capacity, and strengthening distribution infrastructure. Hocco is setting up a new plant in Sonipat while simultaneously doubling production at its existing Gujarat facility. Together, the two plants will reach a combined daily capacity of five lakh litres. The company also plans to deploy hundreds of freezers across retail markets to support its widening distribution footprint.
Founded in 2022 by the Chona family, known for its legacy in the ice-cream industry, Hocco has expanded aggressively across Delhi, Uttar Pradesh, Maharashtra, Telangana, Punjab and Chhattisgarh. The brand completed FY25 with revenues of Rs 220 crore and is on track to surpass Rs 500 crore this fiscal, more than doubling its top line within a year. For the first half of FY26, the company is already expected to cross Rs 300 crore in revenue.
Founder and Managing Director Ankit Chona said the surge in valuation was driven by stronger-than-expected summer sales. “We had committed to Rs 400 crore of revenue this year but are now on track to exceed Rs 500 crore. Based on the current momentum, next year could see us cross Rs 700 crore,” he noted.
Currently, nearly 80 percent of Hocco’s sales come from general trade, with 15 percent contributed by quick commerce platforms. The company expects digital commerce to account for about a quarter of its revenues in the coming years.
