India’s premium ice cream market just got its next big headline. Hocco, the fast-rising luxury ice cream brand founded by the Chona family (creators of Havmor), has raised
India’s premium ice cream market just got its next big headline. Hocco, the fast-rising luxury ice cream brand founded by the Chona family (creators of Havmor), has raised a fresh Rs 115 crore at a dazzling Rs 2,000 crore valuation. The round comes barely four months after it bagged $10 million (Rs 83 crore) in Series B funding from the Chona Family Office and Sauce.VC, following a $12 million Series A in June 2024 that valued the company at just Rs 600 crore.
That’s a more than 3x jump in valuation in less than a year—and a clear signal that investors believe Hocco could become India’s most loved premium ice cream company.
Founded in 2022 by Ankit Chona and family, Hocco has grown at breakneck speed. In just two years, it has rolled out 150+ SKUs, from classic tubs and cones to quirky innovations like:
In June 2024, Hocco expanded its Huber & Holly brand into packaged retail, launching indulgent flavours like Salted Caramel Popcorn, Pondicherry Vanilla, and Sicilian Pistachio. What started in parlours is now available through retail stores, quick commerce platforms, and even travel-linked outlets.
The newly raised Rs 115 crore will fuel Hocco’s next growth chapter. The company plans to:
If all goes to plan, Hocco could transform from a rising disruptor into a serious competitor to Amul, Havmor, and Naturals.
Ankit Chona, MD of Hocco, summed up the vision:
“This funding allows us to move faster on our vision for Hocco—to make quality ice cream that is exciting, innovative, and crafted to turn everyday moments into something special.”
He also credited Sauce.VC for backing the brand from day zero, calling their continued support a validation of Hocco’s ambition to scale.
Manu Chandra, Founder & MP at Sauce.VC, added:
“Ankit and his team are a rare combination of strong category know-how and unbridled ambition. They want to build Hocco into India’s most loved ice cream company—and we’re excited to continue supporting that journey.”
The Indian ice cream market is heating up. Rising incomes, changing lifestyles, and a taste for premium indulgence are pushing consumers away from basic flavours toward innovative, gourmet experiences.
Hocco’s strategy—innovation + premium positioning + strong distribution—is exactly what investors believe can take it beyond being a regional favourite to a national (and global) player.
And with the Chona family’s proven track record (they built and exited Havmor Ice Cream in a Rs 1,020 crore deal to Lotte), Hocco is being closely watched as the next big FMCG success story.
With a Rs 2,000 crore valuation just two years in, Hocco is well on its way to unicorn territory. If it delivers on its 2026 capacity target and keeps consumers hooked with innovative launches, it might not be long before the brand is valued at $1 billion+—all while giving Indians more reasons to scream for ice cream.
