Brands
Lectrix EV launches India’s only 2WEV with 2.3KW battery
Mumbai: Lectrix EV, one of the top 10 OEM’s in the EV segment, launches LXS 2.0 with a range of 98kms@2.3KW battery and unparalleled quality (with more than 1.25L km tested) at the unbelievable price of Rs 79,999 only (lowest in the category).
LXS 2.0 is the only EV in the 2W category that solves the 3 major problems for consumers. It combines the right range, the right quality and the right value for money – making it an ideal offer for those wanting to enter the EV category for the first time.
Lectrix EV is a strong player in the EV category and has more than 10,000 units being used by consumers across the country. The pre-booking for LXS 2.0 is now open with deliveries beginning March 2024 onwards.
SAR Electric Mobility MD and CEO K Vijaya Kumar stated, “We understand the outlook of the value-conscious consumer in India. To further our contribution to the same and ensure a wider acceptance for EV2W, we have launched this new product. It is the perfect balance of ‘value’ and ‘affordability’ without compromising on innovation and quality. It is the only available 2WEV in India with 98km range @ 2.3 KW battery for Rs 79,999/-.”
Brands
Hocco crosses Rs 530cr revenue in two years
Sauce.vc-led Rs 100cr raise values ice cream brand at Rs 2,500cr pre-money as quick commerce hits 20 per cent of sales.
MUMBAI: Hocco has just scooped a seriously sweet milestone crossing the Rs 530 crore revenue mark in just two full years of operations. The fast-growing Indian ice cream and indulgence brand announced it has raised Rs 100 crore in fresh capital led by Sauce.vc. The round values the company at Rs 2,500 crore pre-money and underscores investor confidence in its rapid scale and distinctive India-first approach.
Founder Ankit Chona said the brand’s success stems from solving real Indian challenges extreme summer heat, fragmented cold chains and culturally rooted tastes. “In India, product development doesn’t end in the lab. It only ends when it survives the street,” he noted. This philosophy has produced viral hits such as Aamchi mango ice cream, BIX cake-sponge sandwiches, the Oh cone and culturally relevant collaborations like Haldiram’s Barfi and festive Modak specials.
Hocco currently operates manufacturing facilities in Ahmedabad and Panipat with a production capacity of approximately 3 lakh litres per day, running near full capacity in peak season. The fresh capital will help expand this to around 4.5 lakh litres per day.
Quick commerce has emerged as a major growth engine, now contributing ~20 per cent of overall business and growing nearly 2x year-on-year. The channel has boosted product discovery, increased consumption frequency and helped extend ice cream beyond its traditional seasonal limits.
Sauce.vc founder Manu Chandra said, “At Sauce, we believe that when you chance upon an outlier business, you double down with stronger conviction. We see Hocco as just that.”
With a strong innovation pipeline, deeper distribution and continued focus on cultural relevance, Hocco is entering its third year aiming to capture even more mind space and market share. In a category long dominated by legacy players, this young brand is proving that the coolest way to win is to build for India’s realities, one scoop, one street and one satisfied craving at a time.
