Ahmedabad’s Ice Cream Brand Hocco Raises Rs 100Cr with Rs 600 Crore Valuation

Hocco is a brand launched by the Chona family, known for their legacy in the food service industry. In 2019, the Chonas expanded their existing legacy food business by introducing a new brand called “Hocco,” which stands for House of Chonas Collaborative. Hocco aims to offer authentic recipes with a modern twist to cater to new— age customers who enjoy delicious Indian food.

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Hocco, a new-age ice cream brand based in Ahmedabad, has secured a funding round of Rs 100 crore at a valuation of Rs 600 crore. The Chona family, who are the brand’s promoters, along with existing investor Sauce VC, spearheaded the round. Renowned Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar also participated in the funding.

Hocco is strategically utilizing quick commerce to extend its market beyond Gujarat, its primary stronghold. Chona highlighted the pivotal role quick commerce has played in their growth trajectory since its inception in February, with sales consistently doubling month over month. “Presently, our revenue stream predominantly originates from Gujarat, supplemented by a burgeoning quick commerce segment. Our foray into quick commerce commenced in February, and the exponential sales surge on this platform has been remarkable,” he affirmed.

Hocco is strategically poised to deepen its presence in Gujarat while embarking on expansion ventures into adjacent territories like Rajasthan, Maharashtra, and Delhi-NCR by the upcoming summer. Hocco is projecting a robust growth trajectory for FY26, aiming to double its sales compared to FY25.

According to Chona, their strategy entails a strategic expansion into Gujarat and adjacent regions. By the upcoming summer, Hocco plans to inaugurate operations in Rajasthan, Maharashtra, and Delhi-NCR. Additionally, Chona underscored the transformative potential of quick commerce within the ice cream sector, highlighting its capacity to swiftly fulfill consumer demands through expedited deliveries. Nonetheless, he acknowledged the challenge posed by the vast array of brands on quick commerce platforms, which may constrain the range of available stock-keeping units (SKUs).

Hocco, an ice cream brand from Ahmedabad, secured a significant Rs 100 crore funding round at a valuation of Rs 600 crore, led by the Chona family and Sauce VC, with participation from filmmakers Ritesh Sidhwani and Farhan Akhtar. Funding will boost manufacturing for a revenue target of Rs 200 crore by March 2025. Quick commerce has been pivotal, propelling sales growth. Expansion plans include penetrating territories like Rajasthan and Maharashtra, with a goal to double sales in FY26. Despite the benefits of quick commerce, challenges from competing brands exist. Hocco’s trajectory highlights a strategic and ambitious path ahead.