Ice Cream Brand Hocco’s Valued at INR 600 Cr With Backing From Chona Family, Sauce.vc
SUMMARYHocco has reportedly raised INR 100 Cr ($12 Mn) in a fresh funding round The funds will be used to expand the company’s manufacturing capacity The round also saw participation from angel investors, including film producers Ritesh Sidhwani and Farhan Akhtar Ahmedabad-based ice cream brand Hocco has reportedly raised INR 100 Cr ($12 Mn) in […]
Ice cream companies pin hopes on post-election GST rate cut
Ice cream companies have doubled down on their efforts to reduce GST rate by approaching the President, who has duly forwarded their representation to the Finance Ministry. Subsequently, they have key Finance Ministry officials with a plea for lowering the tax. Ice cream, sold through shops or parlours attracts 18 per cent GST. However, if […]
Buttermilk to Ice cream by dairy brands are capitalising on the summer boom
As mercury levels soar and heat wave conditions grip various parts of India, beverage and dairy companies are experiencing a welcome boost in sales. The scorching weather may be a challenge for many, but it’s proving to be a boon for businesses dealing in thirst-quenching beverages, curd, buttermilk, and ice creams. According to Jayen Mehta, […]
Wide range, discerning consumer, boom time for Rs 30,000-cr ice-cream industry
As 11-year-old Kyra Arora enters the newly opened ‘ice-cream studio’ near her home in Panchkula, her eyes light up. On offer is a mouthwatering range of bars, lollipop sundaes, popsicles, ice-cream sandwiches, gelatos and mini bites. The unending variety is no vanity enterprise. It’s an indication of a booming ice-cream market and the exponential […]
Ice cream not a luxurious item, says Chhattisgarh High Court
Chhattisgarh High Court said that ice cream is not a luxurious item and has directed GST Council to reconsider the exclusion of Small-Scale Manufacturers of Ice Cream from the composition scheme. Ice cream attracts GST at the rate of 18 per cent. In its order dated April 1, a single judge bench of Rakesh Mohan […]
Department of Energy USA is funding projects to slash GHG emissions from mac and cheese, ice cream, and more.
The Biden administration today announced the largest investment in cleaning up industrial greenhouse gas emissions to date. The Department of Energy (DOE) selected 33 projects across more than 20 states to receive up to $6 billion in federal funding for clean energy technologies. It’s a diverse cohort spanning from mac-and-cheese maker Kraft Heinz to manufacturers […]
Curd, Chaas, Ice cream, Flavored milk demand to pick up with rising mercury
Makers of beverages, ice-creams, air conditioners and coolers are anticipating strong demand for their products this summer season as mercury levels rise. The Indian Meteorological Department (IMD) recently said that the March-May period this year would be long and dry, with more days of heat waves and above-normal temperatures across the country. This is good […]
Varun Beverages to expand capacities of juices, value-added dairy items in 2024
Varun Beverages, leading bottler of beverage major PepsiCo, is expanding its production capacities in the juices and value-added dairy products segments in 2024, according to the latest annual report of the company. Besides, Varun Beverages Ltd (VBL) is strengthening its distribution network and chilling infrastructure, which is essential to enhance presence in the existing and […]
Milk major Aavin hikes prices of popular ice creams in T.N.
Four variants of Aavin ice cream that have chocolate as the main component, will cost a few rupees more from Sunday, March 3, 2024, onwards. The Tamil Nadu Co-Operative Milk Producer’s Federation Ltd. (Aavin) has increased the prices of the popular chocobar (65 ml) from ₹20 to ₹25; the vanilla ball (125ml) from ₹28 to […]
Israeli foodtech startup secures US regulatory nod for cow-free dairy protein
Imagindairy seeks to partner with US food companies to scale up the production of its animal-free protein used in cow-free dairy products like cheeses, yogurt and ice cream Israeli foodtech startup Imagindairy Ltd. has received US regulatory clearance that its animal-free proteins can be safely used in the production of dairy duplicates, like milk and […]