Ahmedabad’s ice cream scene is getting a major scoop with the news that Hocco, a rising star in the industry, has successfully secured ₹100 crore (US$12 million) in funding. This significant investment round marks a pivotal moment for the young brand, paving the way for a delicious expansion and solidifying its position as a major player in the Indian ice cream market.
The funding round was led by the Chona family, the founders of the iconic Havmor ice cream brand. This strategic investment brings not only financial muscle but also a wealth of experience in the ice cream industry to Hocco. Joining forces with the Chonas is Sauce.vc, an existing investor known for backing innovative new-age brands. The icing on the cake comes from the participation of angel investors Ritesh Sidhwani and Farhan Akhtar, two prominent figures in the Indian film industry. This diverse group of investors signals strong confidence in Hocco’s potential and vision.
The valuation of Hocco at a cool ₹600 crore reflects the impressive growth trajectory the brand has experienced in its short lifespan. The company plans to leverage the fresh capital to fuel its ambitious expansion plans. Currently, Hocco produces a delectable 40,000-50,000 litres of ice cream daily. However, with this new funding, the brand aims to triple its production capacity by next summer, reaching a staggering 1.3 lakh litres per day. This exponential growth will enable Hocco to meet the increasing demand for its delicious products and solidify its presence in the market.
Innovation and a keen understanding of consumer behavior are at the heart of Hocco’s strategy. The brand has identified quick commerce as a key driver of growth. Since launching its quick commerce platform in February, Hocco has witnessed phenomenal success, with sales doubling every month! This rapid growth underscores the changing dynamics of the ice cream industry and Hocco’s ability to adapt and thrive in this new landscape.
Building on this success, Hocco plans to capitalize on the quick commerce advantage by expanding beyond its Gujarat base. The brand has set its sights on tantalizing taste buds in Rajasthan, Maharashtra, and the bustling Delhi-NCR region. This geographical expansion will allow Hocco to reach new customers and establish itself as a national ice cream brand.
The funding round is a testament to Hocco’s commitment to quality, innovation, and customer satisfaction. The brand’s focus on leveraging technology through quick commerce platforms demonstrates a forward-thinking approach to distribution and customer engagement. With a strong team, a strategic vision, and the backing of prominent investors, Hocco is poised to make a significant mark on the Indian ice cream industry. Get ready for a wave of refreshing flavors and exciting new offerings as Hocco continues to churn out delicious success stories!
Ahmedabad’s Hocco ice cream is melting hearts (and freezers) with ₹100 crore funding! Backed by the Chona family (Havmor founders) & Bollywood stars, they’re tripling production & expanding via quick commerce. Get ready for a Hocco wave! Franchise deals anyone? #icecream #funding #india
