Hocco Raises Rs 100 Cr, Valuation Reaches Rs 600 Cr: Report
Sauce VC, a consumer-focused investment firm, now holds around a 10 per cent stake in Hocco, as per a media report
Amedabad-based ice cream brand Hocco has raised Rs 100 crore (approximately USD 12 million) in fresh funding, according to media reports. The investment round, led by the founding Chona family and existing investor Sauce VC, values the company at Rs 600 crore. Notable angel investors, including Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar, also participated.
A media report reveals, Hocco's managing director, Ankit Chona, stated that the funds will be used to expand the company's manufacturing capacity. The brand, established just eight months ago, projects its revenue to reach Rs 200 crore by March 2025.
Sauce VC, a consumer-focused investment firm, now holds around a 10 per cent stake in Hocco. The Chona family previously sold their legacy brand Havmor to South Korean conglomerate Lotte for Rs 1,020 crore in 2017, as per a media report.
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