Premium ice cream brand Hocco has raised $10 million in the first tranche of its $20 million Series B round, co-led by the Chona Family Office and consumer-focused venture capital firm Sauce VC.
The funds will be used to expand manufacturing capacity, strengthen distribution networks, and enter new markets across India.
A portion of the capital will also go toward new product development and brand marketing. The company said the second close of the round is expected later this year.
Founded by the Chona family, the original owners of the legacy brand Havmor—Hocco offers a curated mix of regional and globally inspired flavours, available across retail, QSR, and quick commerce channels.
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This fresh capital comes less than a year after Hocco raised $12 million in its Series A round, also from the same investors, at a valuation of ₹600 crore (~$70 million).
Hocco reported ₹32.38 crore in revenue and a ₹20.23 crore loss in FY24, but the company is aiming for an aggressive ₹500 crore revenue target by FY25.
Hocco competes with legacy players like Amul, Vadilal, and Hindustan Unilever, as well as emerging premium brands such as NIC, Hangyo, Go Zero, and NOTO Ice Cream.
