Ice Cream Brand Hocco Raises $10 Mn Funding To Support Expansion

Ahmedabad-based ice cream brand Hocco has raised $10 Mn (around INR 85.56 Cr) as a part of its $20 Mn Series B funding round co-led by Chona family office and Sauce.vc.

The brand plans to use the new funding mainly to increase its production capacity and grow into new markets across India.

It also wants to improve its distribution network and supply chain, while working on new product ideas and developing new flavours.

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“At Hocco, we’ve poured our hearts into every scoop, and this fresh capital gives us the strength to dream bigger, reach farther, and serve many more with the joy of truly great ice cream,” said Ankit Chona cofounder and managing director of Hocco.

Hocco was started in 1944 by Satish Chona as an ice cream parlour in Karachi. In 2017, the Chona family sold their well-known brand Havmor to South Korea’s Lotte for Rs 1,020 crore.

They launched Hocco in 2019 to grow their family’s food business.

Today, Hocco has over 100 restaurants and outlets across India and one in the US, including casual dining spots, quick-service eateries, and ice cream cafes.

Their brands include Hocco Eatery, 1944 The Hocco Kitchen, Hocco Ready-to-Eat, Huber & Holly, Hocco Ice Cream and phab.

In June last year, Hocco raised Rs 100 crore in new funding, bringing its valuation to Rs 600 crore.

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