Hocco Raises $12.9 Mn from Sauce.vc, Inches Closer to $20 Mn Series B Target
Indian ice cream brand Hocco has secured an additional INR 115 crore (approximately $12.9 million) in funding from its existing investor Sauce.vc, bringing it closer to the completion of its $20 million Series B funding round. This follows a $10 million raise earlier in May, co-led by the Chona family office and Sauce.vc, taking the total raised so far to around $22.9 million, slightly overshooting its original Series B target.
Hocco confirmed that this latest tranche was raised at a valuation of INR 2,000 crore (around $225 million), highlighting the growing confidence investors have in the brand’s scalability, premium positioning, and market potential in the frozen dessert space. The valuation marks a substantial uptick from previous rounds, reflecting Hocco’s strong performance and expanding footprint across India.
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Founded by the Chona family, known for establishing the popular Havmor ice cream brand, Hocco has positioned itself as a premium, homegrown ice cream brand with a focus on high-quality ingredients, innovation in flavors, and deep distribution networks. Since launching, it has seen rapid adoption across several Indian states and aims to challenge both domestic and international players in the segment.
In a statement, Hocco outlined plans to utilize the newly raised capital to ramp up its manufacturing capabilities, including the expansion of its production facilities to meet rising demand. Additionally, the company will invest heavily in strengthening its cold chain logistics to ensure consistent product quality and distribution efficiency, especially as it scales operations beyond metro cities.
Beyond manufacturing and logistics, Hocco is also looking to expand its domestic and international footprint, targeting newer markets within India as well as select global locations where demand for Indian-origin premium FMCG products is rising. The brand’s global expansion strategy aligns with the growing appetite for ethnic and niche food products across diasporic and foreign markets.
Moreover, Hocco has identified quick commerce, modern retail, and travel-linked retail formats as high-growth channels. With the boom in quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart, the brand is strategically increasing its presence to tap into on-demand consumption trends. Similarly, the company is investing in partnerships with airports, railway stations, and highways, recognizing these as crucial touchpoints for impulse-driven purchases.
The funding comes at a time when the Indian ice cream and frozen dessert market is undergoing significant transformation, with premiumization, health-conscious ingredients, and convenience formats driving the next phase of growth. Hocco’s emphasis on innovation, premium quality, and strategic distribution positions it well to capitalize on these shifts.
With the latest infusion of funds, Hocco is not just strengthening its backend infrastructure but also preparing to become a leading player in the Indian FMCG and frozen food sector. The continued support from Sauce.vc also reflects a strong alignment between investor and founder vision.
In summary, with $12.9 million in fresh capital and a valuation of $225 million, Hocco is well on its way to becoming a household name in the Indian and global premium ice cream segment.
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