Hocco Revenue, Valuation, Funding & Investors

Hocco is valued at $2.7B as of April 2026.

See full Hocco profile

Last Hocco valuation

$2.7B

Series C · Apr 2026

Last Hocco funding round

$11M

Series C · Apr 2026

Hocco revenue

$48M

Series B · Sep 2025

Key investors in Hocco

  • Sauce.vc
  • Chona Family Office
  • Farhan Akhtar
  • Ritesh Sidhwani
  • HRPL Restaurants

Hocco Overview

About Hocco

Hocco is a Vadodara-based ice cream brand offering impulse and take-home products in India. Its range includes cone varieties like Choco Volcano Stick and family packs such as Black Currant Feast, distributed through 50,000 outlets nationwide. Manufactured in Gujarat facilities, it emphasizes natural flavors and creamy textures.


Founded

1944

HQ

IndiaAhmedabad

Website

hocco.in

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Revenue

$48M (Sep 2025)

Valuation

$2.7B (Apr 2026)

Hocco Valuation

Hocco is currently valued at $2.7B, based on its Series C in April 2026.

The $11M round was led by Sauce.vc.

Hocco's valuation has grown 42x from $64M at its Series A in June 2024 to $2.7B in April 2026, across 4 priced rounds.

Hocco valuation by funding round

Revenue multiple
Hocco valuation by funding round
DateStageValuationRevenue Multiple
Apr 2026Series C$2.7B-
Sep 2025Series B$214M4.5x
Feb 2025Series A$214M4.0x
Jun 2024Series A$64M2.7x

Hocco Revenue

Hocco's latest recorded revenue is $48M, as of its Series B in September 2025. At a $214M valuation, that implies a 4.5x revenue multiple.

Revenue grew from $24M in June 2024 to $48M in September 2025, while the revenue multiple moved from 2.7x to 4.5x.

Hocco revenue by funding round

Hocco revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2025$48M$214M4.5xSeries B
Feb 2025$54M$214M4.0xSeries A
Jun 2024$24M$64M2.7xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Hocco Funding History

Hocco has raised a total of $49M across 5 funding rounds.

Hocco's first fundraising round was a $12M Series A in June 2024. The most recent completed round was a $11M Series C in April 2026.

Hocco funding rounds

Hocco funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2026Series CSauce.vc (lead)$11M$2.7B-
Sep 2025Series BSauce.vc (lead)$13M$214MHocco, an Ahmedabad-based premium ice cream brand founded by the Chona family (previously behind Havmor), raised Rs 115 crore ($13 million) in a fresh Series B funding tranche led by long-time investor Sauce.vc on September 29, 2025, at a post-money valuation of Rs 2,000 crore (about $225 million). This follows a $10 million raise in May 2025 as part of the same $20 million Series B co-led by Chona Family Office and Sauce.vc, and a Series A of $12 million (Rs 100 crore) in June 2024 at Rs 600 crore valuation. The funds will expand manufacturing capacity from 1.4 lakh litres per day to 3 lakh litres by summer 2026, strengthen cold chain logistics, drive product innovation, and deepen presence in India and select international markets. Quick commerce contributes 7-8% of sales, expected to reach 20% next fiscal year. Hocco competes with Amul, Vadilal, Hindustan Unilever, and newer brands like NIC, Hangyo, Go Zero, and NOTO in India's growing premium ice cream market, projected to expand from $3.5 billion in 2023 to $5.8 billion by 2028. Sauce.vc, an early backer, highlighted the team's expertise and ambition to build India's most loved ice cream company.
May 2025Series BChona Family Office (lead); Sauce.vc (lead)$10M-Hocco, an Ahmedabad-based premium ice cream brand launched in 2023 by the Chona family (formerly of Havmor), raised $10 million in May 2025 as the first tranche of a $20 million Series B round co-led by Chona Family Office and Sauce.vc. The funds support expanding production capacity from 1.3 lakh litres per day to 2.5 lakh litres by February 2026, entering new markets like Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Punjab, Goa, and Telangana, and strengthening supply chain, distribution, product innovation, and marketing. The brand operates around 100 restaurants and eateries in India plus 2 in the US, with products including Hocco Eatery, Hocco Ready-to-Eat, Huber & Holly, and Hocco Ice Cream, present in Gujarat, Maharashtra, Rajasthan, Delhi NCR, and parts of Madhya Pradesh. This Series B tranche follows a $12 million Series A round last year at INR 600 crore post-money valuation. In September 2025, Hocco raised an additional Rs 115 crore (~$12.9 million) from Sauce.vc at Rs 2,000 crore (~$225 million) valuation to further boost manufacturing to nearly 3 lakh litres by summer 2026, enhance cold chain logistics, and expand into quick commerce, modern retail, travel touchpoints, and select international markets. Hocco competes in India's growing premium ice cream segment against brands like Yummo, NIC, Get-A-Way, Minus 30, and Furbon, with total funding exceeding $33 million to date.
Feb 2025Series AHRPL Restaurants$3M$214MHocco is an ice cream brand launched in 2023 by Ankit Chona of the Chona family, previously behind Havmor, offering products like Hocco Eatery, Hocco Ready-to-Eat, Huber & Holly, and Hocco Ice Cream across around 100 restaurants in India and 2 in the US. The company competes with brands such as Yummo, NIC, Get-A-Way, Minus 30, and Furbon. Hocco raised INR 115 crore (about $12.9-13 million) in the second tranche of its Series B funding round led by existing investor Sauce.vc, following a $10 million first tranche in May co-led by Chona family office and Sauce.vc, as part of a targeted $20 million Series B. The round valued the company at INR 2000 crore post-money (about $225 million), up from INR 600 crore after a prior INR 100 crore raise in 2023; total funding exceeds $33 million. Funds will expand manufacturing capacity from 1.4 lakh litres per day to nearly 3 lakh by summer 2026 with a new Sonipat plant, enhance cold chain and logistics, boost quick commerce, modern retail, and travel touchpoints, and enter international markets. Hocco projects revenues exceeding INR 500 crore this fiscal year (FY25), surpassing its INR 400 crore commitment due to strong summer performance and current run rate, up from INR 220 crore consolidated revenue in FY25 per one source (aiming to double to INR 450 crore), with FY26 targets of INR 700-800 crore.
Jun 2024Series AChona Family Office (lead); Sauce.vc (lead); Ritesh Sidhwani; Farhan Akhtar$12M$64MHocco is an Ahmedabad-based new-age ice cream brand founded by the Chona family, previously known for selling Havmor to Lotte in 2017. The company raised approximately $12 million (Rs 100 crore) in its Series A funding round around June 2024, led by Chona Family Office and Sauce.vc, with participation from angel investors Ritesh Sidhwani and Farhan Akhtar. The post-money valuation reached INR 600 crore. Funds from the round are allocated to expanding manufacturing capacity from 40,000-50,000 liters per day to 130,000 liters by next summer, alongside deeper penetration in Gujarat and entry into Rajasthan, Maharashtra, and Delhi-NCR. Hocco projects revenue of Rs 200 crore for FY25 (ending March 2025) and aims to double sales in FY26. Sales through quick commerce have doubled monthly since February 2024. Sauce.vc holds around 10% stake post-investment. Hocco competes with Amul, Vadilal, Hindustan Unilever, and newer brands like NIC, Hangyo, Go Zero, and NOTO. In June 2024, it launched premium sub-brand Huber & Holly with flavors like Salted Caramel Popcorn and Sicilian Pistachio, expanding from parlors to retail.

Who has invested in Hocco?

5 investors have backed Hocco across its funding rounds, including Sauce.vc, Chona Family Office, Farhan Akhtar, Ritesh Sidhwani and HRPL Restaurants.

Lead investors include Sauce.vc and Chona Family Office.


Hocco Investors

Investors in Hocco by funding rounds participated
InvestorHQRoundsRoleFirst check
Sauce.vcIndiaMumbai4LeadJun 2024
Chona Family OfficeIndiaMumbai2LeadJun 2024
HRPL RestaurantsIndiaIndia1ParticipantFeb 2025

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Hocco Competitors

Hocco competitors include listed companies like Leroy Seafood Group, Greencore Group, The Marzetti and China Feihe, and private ones like Nutrabolt and Bowery Farming.

Public and private companies comparable to Hocco
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Leroy Seafood GroupNorwayNorwayPublicly listed$3.7B$302M$2.7B1.1x
Greencore GroupUnited KingdomUnited KingdomPublicly listed$2.6B$212M$2.7B0.9x
The MarzettiUnited StatesUnited StatesPublicly listed$1.9B$315M$2.8B1.5x
China FeiheChinaChinaPublicly listed$2.7B$512M$2.8B0.3x
NutraboltUnited StatesAustin, TXPrivate$650M-$2.9B4.4x
Bowery FarmingUnited StatesNew York City, NYPrivate--$2.3B-

Hocco Public Comps

Hocco is still privately-owned, but its public comps include Leroy Seafood Group, Greencore Group, The Marzetti, China Feihe, Premium Brands Holdings, Tootsie Roll, Suedzucker, AWL Agri Business, National Beverage and Olam Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Leroy Seafood Group$3.7B$302M1.1x1.1x13.1x7.9x
Greencore Group$2.6B$212M1.5x0.9x18.6x8.7x
The Marzetti$1.9B$315M1.6x1.5x9.5x9.5x
China Feihe$2.7B$512M0.3x0.3x1.7x1.6x
Premium Brands Holdings$5.4B$316M1.0x0.9x17.1x9.5x
Tootsie Roll$733M$137M3.8x-20.2x-
Suedzucker$9.6B$526M0.7x0.7x13.2x9.9x
AWL Agri Business$7.8B$225M0.4x0.4x13.7x12.7x

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Common questions about Hocco

When was Hocco founded?Hocco was founded in 1944.
Where is Hocco headquartered?Hocco is headquartered in Ahmedabad, India.
Is Hocco publicly listed?No, Hocco is a private, VC-backed company.
What is Hocco's valuation?Hocco was last valued at $2.7B in its Series C in April 2026.
How much funding has Hocco raised?Hocco has raised $49M across 5 funding rounds.
What was Hocco's last funding round?Hocco's last funding round was a $11M Series C in April 2026, led by Sauce.vc.
Who are Hocco's investors?Hocco's investors include Sauce.vc, Chona Family Office, HRPL Restaurants, Ritesh Sidhwani and Farhan Akhtar.
What is Hocco's revenue?Hocco's latest recorded revenue is $48M (September 2025).
What is Hocco's revenue multiple?Hocco's latest valuation implies a 4.5x revenue multiple ($214M valuation on $48M of revenue).
Which companies are comparable to Hocco?Companies comparable to Hocco include Leroy Seafood Group, Greencore Group, The Marzetti, China Feihe, Nutrabolt and Bowery Farming.

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