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Ahmedabad's Hocco has secured fresh funding of Rs 100 crore (approximately $12 million). Led by the founding Chona family and existing investor Sauce VC, the round valued Hocco at Rs 600 crore. The deal also attracted angel investors like Bollywood filmmakers Ritesh Sidhwani and Farhan Akhtar. The company projects revenue to reach Rs 200 crore by March 2025.
Several direct-to-consumer (D2C) brands in sectors such as food and beverages, apparel, health and wellness — founded by scions of families running traditional businesses in similar categories — are drawing significant amounts of venture funding.
Consolidation in the D2C space is not new. Companies that are unable to scale eventually get sold to larger players and these transactions typically happen at a steep discount
UGRO CAPITAL LIMITED EMBRACES EMBEDDED FINANCING FOR CREDIT NEED OF SMALL MERCHANTS
The board also approved raising equity capital of Rs 1,322 crore through Compulsory Convertible Debentures (CCD) and warrants. The equity fundraise is subject to shareholder approval.