Startup funding in India for consumer brands stays hot: ice cream brand Hocco is in discussions with private equity firms General Atlantic and ChrysCapital to invest ₹300–400 crore in the D2C brand, according to three people aware of the talks. The proposed round would value the Ahmedabad-based brand at ₹4,000–4,500 crore — an 80% jump from the ₹2,500 crore at which it last raised capital.
The proposed round comprises largely primary capital, though early investors including Sauce.vc could partially offload some stake — the secondary tranche has not been finalised. In April 2026, Hocco raised ₹100 crore from Sauce.vc at a reported pre-money valuation of ₹2,500 crore.
Revenue doubled, ₹1,000 crore target next
Founded by Ankit Chona of the family behind Havmor ice creams, Hocco more than doubled its revenues in FY26 to over ₹530 crore from ₹209 crore in FY25, and is projecting revenues of ₹1,000 crore in FY27. The company runs the flagship Hocco brand, premium parlours Huber & Holly, kulfi brand Chillfi on quick commerce, around 200 SKUs and about 3,300 pushcarts.
Why it matters for founders
An 80% valuation jump in six months, priced on revenue growth and quick-commerce distribution. Hocco's story shows what PE buyers now pay for in consumer brands: repeat-purchase categories, own cold-chain infrastructure, and a clear path to ₹1,000 crore. If you run a D2C brand, the secondary tranche detail matters — it lets early backers partially exit without a down round for the company.