Refrigerate small mixing bowl at least 15 minutes to chill.
Meanwhile, sprinkle gelatine over cold water in small saucepan; let stand 1 minute. Cook on low heat 3 minutes or until gelatine is completely dissolved, stirring constantly. Cool to room temperature.
Place whipping cream in chilled bowl. Gradually add gelatine, beating with electric mixer on low speed until well blended. Beat on medium speed 5 minutes or until thickened.
Add sugar; beat on high speed 5 minutes or until soft peaks form.
