Hocco Raises Rs 100 Cr in Series C, Plans Capacity Expansion and IPO in 3 Years
Hocco raises Rs 100 crore in Series C funding to expand manufacturing, scale distribution, and prepare for IPO within three years.
Prajakta Sanjay Warwadkar 
Ahmedabad-based ice cream brand Hocco has raised Rs 100 crore in a Series C funding round led by existing investor Sauce.vc, the company said, as it accelerates manufacturing expansion and prepares for a public listing within the next three years. The latest investment brings Hocco’s total funding to Rs 481 crore and values the company at Rs 2,500 crore pre-money.
Funding Boost Drives Capacity Expansion
The company plans to deploy the fresh capital to significantly scale its production capacity from the current 2.5 lakh litres per day to 4 lakh litres per day. A new manufacturing facility in Panipat has already been operationalised, and another plant is planned in South India next year to support rising demand.
Founder and Managing Director Ankit Chona stated that the company is also exploring contract manufacturing partnerships as demand continues to outpace supply across multiple markets.
Distribution Strategy Across Regions
Hocco is expanding its distribution footprint with region-specific strategies. While general trade currently contributes 75 percent of revenue, quick commerce platforms account for 20 percent, and self-owned parlours and restaurants contribute the remaining 5 percent.
The brand is leveraging retail expansion in markets such as Telangana and Chennai, while relying on quick commerce platforms in Karnataka and West Bengal. In Delhi NCR, the company continues to focus on a pushcart-led distribution model.
Hocco currently operates approximately 3,300 pushcarts and plans to increase this number to 5,000 by next summer, aiming to strengthen last-mile reach and visibility.
Retail Presence and Brand Portfolio
The company operates around 200 self-owned parlours and restaurants across its network. Alongside its flagship brand, Hocco also manages premium ice cream brand Huber and Holly, which has around 20 parlours, and kulfi-focused brand Chillfi, available primarily through quick commerce channels.
Its combined portfolio includes approximately 200 SKUs, with ongoing plans to expand through new product launches as part of its growth strategy.
Financial Performance and Growth Targets
Hocco reported revenue of Rs 532 crore in FY26, with an EBITDA loss of 10–12 percent, amounting to around Rs 63 crore. The company aims to achieve EBITDA breakeven in FY27, targeting revenue of Rs 900 crore.
According to Chona, the company has reduced losses significantly and expects to reach operational profitability in the current financial year.
IPO Plans and Competitive Positioning
As part of its long-term roadmap, Hocco is preparing for an initial public offering within the next three years. To support this trajectory, the company is planning to raise an additional Rs 400–500 crore from private equity investors.
Founded in 2023 by the Chona family, which previously sold Havmor to Lotte Confectionery in 2017 for Rs 1,020 crore, Hocco represents the group’s re-entry into the ice cream category.
The brand operates in a competitive market alongside established players such as Kwality Wall’s, Vadilal, Amul, Mother Dairy, and Havmor, as well as emerging brands like NOTO, Naturals, and Go Zero. Hocco positions itself between legacy and new-age brands, focusing on scale-driven growth supported by differentiated product offerings and distribution strategies.
