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100X.VC Team
Written by various collaborators within Team 100X.VC
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Jan 24, 2023
Topic

Introduction

At first- glance one might think that the $2 billion chocolate industry is self-sufficient and well-rounded with all the pain points being taken care of, however, a consumer in the Indian market frequently struggles to find a chocolate-based product that covers the following grounds:

  1. Chocolate that matches the quality of a “Lindt” in the Indian market
  2. Refined Raw ingredients that are not as harmful to one’s health
  3. Innovative recipes

To solve these problems at hand, Rocca - The New Age Chocolate was born. A blissful combination of buttery caramel dipped in dark chocolate and covered with roasted California almonds. Rocca is a harbinger in the Indian market that has attacked the problem with original recipes, and innovative and healthy products, all in the form of an indulgent combination of caramel, dark chocolate & roasted nuts.

Happico was born in 2019 right before Covid, via freshly graduated 21-year-olds, who at that point in time had no idea about what was coming for them. From financial constraints to being cheated by distributors, Yash and Sonal courageously weathered all the difficulties. The founding team includes CoFounder Yash Pande, a true entrepreneur and a trailblazer in every sense, having previously functioned as a Business Strategist for 2 startups, at 21 years of age started Happico with the CoFunder of Happico Roccá, Sonal Bahilani, a leader in all aspects, bringing experience as a Brand Manager in two startups to the table.

Market Opportunity

Considering the recent trends in the health and wellness industry bolstered by the readiness of an Indian consumer to pay a premium price for good quality and an innovative recipe-based chocolate product Roccá presently caters to the Premium Chocolate consumers and Corporates, Roccá targets the $33.22 billion Indian Food and Beverages market that includes the $2 billion chocolate industry.

100X.VCThesis:

Founders ability to focus on product line - Rocca under Happico is of interest. They have achieved early traction and we believe this can be built into a scalable luxury priced D2C online brand.

Conclusion

Roccá’s unique recipe in addition to the trends observed in the Indian health and wellness market wherein consumers are becoming more and more ingredient conscious gives Roccá a solid base to build on. 100X feels that ROCCAis bridging the gap currently present in the Indian Chocolate market innovatively and is backed by such a hard-working team and thus has what it takes to absolutely crush the market. We wish them all the luck and support and look forward to watching it rise!


 

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