HOCCO Ice Cream has raised ₹100 crore from Sauce.vc to scale up its capacities and distribution as it aims to double revenues by FY27. The latest fund raise is part of its larger Series C round, valuing the company at a ₹2,500 crore. The company, which has raised over ₹400 crore so far, will begin looking at raising the next round of funding of ₹350-500 crore in the second half of the year.
Ankit Chona, MD & Founder, HOCCO Ice-Cream told businessline, “This fund raise is from Sauce.vc who have been backing us from the start. This is part of the larger Series C that we kickstarted last year valuing us at ₹2,500 crore. The proceeds will go into augmenting our capacities, expanding distribution, branding and marketing.”
He said that the company ended FY26 with net revenues of ₹532 crore. “The revenue growth that we have seen in the past fiscal year has been higher than our expectations. Our target now is to get ₹900 crore by FY27-end but looks like we will cross the ₹1,000 crore mark. So we are almost going to double our revenues. We also expect to be very close to achieving EBITDA breakeven,” he added.
The company is also in the process of scaling up capacity and is setting up a new plant at Panipat which will commence operations in the coming days.
Talking about future plans, Chona said, “We will need further capital to significantly enhance our capacities next year. So, post summer season, we will begin talks to raise an even larger funding round to the tune of ₹300-500 crore.”
The brand is now sold across 40,000 retail touch points with nearly 80 per cent of the sales coming from offline, while the balance 20 per cent comes from quick commerce platforms. “We have strong distribution across various states including Gujarat, Maharashtra, Rajasthan, Madhya Pradesh, Chhattisgarh, Uttarakhand, Haryana, Punjab and Delhi. We are now launching other key States such as Telangana and Tamil Nadu,” Chona added.