Hocco raises $10 million in Series B funding, to ramp up capacity, expand footprint

Hocco raises $10 million in Series B funding to ramp up capacity, expand footprint

Premium ice cream brand Hocco on May 15 said it raised $10 million in fresh funding as part of a $20 million Series B round co-led by the Chona Family Office and consumer-focused venture capital firm Sauce VC.

It will use the capital to boost manufacturing capacity and expand into new markets across India, the company said.

The Ahmedabad-based firm, founded by the Chona family, has grown rapidly over the past two years and is positioning itself as a major player in India’s fast-growing premium dairy and dessert segment.

The latest round is aimed at supporting operational scale-up, strengthening distribution, and investing in brand marketing and product development.

Hocco promoter Ankit Chona said the fundraise will help the company reach more consumers and compete more aggressively in a category seeing rising demand. “This fundraise is not just about expanding capacity — it’s about believing in the power of a homegrown brand to stand tall among the world’s best,” he said.

Hocco plans to use the funds to significantly increase production capacity, enhance its supply chain infrastructure, and roll out new flavours tailored to regional and evolving consumer tastes. It is also expected to expand its presence in new cities, leveraging channels like modern retail and quick commerce.

Manu Chandra, founder of Sauce VC, said Hocco’s growth in under two years reflects the Chona family’s deep operational expertise in the space. “The market is witnessing strong growth in India driven by improving disposable incomes and easier access through new-age channels such as quick commerce,” he said.

India’s premium ice cream segment has seen strong momentum in recent years, driven by rising consumer demand for high-quality dessert options. Players such as Hocco are increasingly tapping into this shift by offering distinct flavour profiles and focusing on product consistency and premiumisation.

Hocco was founded in 2022 by Chona following the family’s earlier success with the Havmor ice cream business, which was sold to South Korea’s Lotte Group in 2017. The brand has since carved out a presence in the premium category with a focus on using high-quality ingredients, distinct flavours and modern branding to appeal to younger consumers.

Hocco’s Series B raise signals growing investor interest in homegrown brands that blend legacy know-how with modern brand positioning. With this round, the company is looking to build on its existing footprint and cement its status as a next-generation contender in India’s competitive dairy and dessert landscape.