Licious, a unicorn startup that sells meat and seafood, announced on Tuesday that it has raised $150 million (about Rs 1,140 crore) in funding led by Singapore-based Amansa Capital for commercial expansion. Kotak PE and Axis Growth Avenues AIF – I are two other important investors in the Series F2 investment round. Existing investors, as well as famous angel investors, such as Nithin and Nikhil Kamath of Zerodha, Aman Gupta of BoAt, and Haresh Chawla, Partner, True North, took part in the round.
Licious noted in a statement that this round of funding comes just six months after the company became the country’s first D2C (direct-to-consumer) unicorn.
The funds raised in Series F2 will be used to fund technology interventions that will accelerate category development and enhance the overall consumer experience. In addition, the corporation plans to engage in smart acquisitions and expanding the brand’s reach. Licious raised $192 million in their Series F fundraising round in July 2021.
“Today, Licious is the highest valued D2C startup in India. This valuation is a direct outcome of the value that we have created for our stakeholders – investments made towards building the category have borne us rich dividends and have propelled growth for the company and its people,” Vivek Gupta and Abhay Hanjura, co-founders, Licious, stated.
Following the reception of $52 million in investment in October 2021, the company was valued at a billion dollars.
In six years, the online meat delivery startup Licious has performed an impressive and in niche market area. It continues to disrupt the animal protein scope in the country. But it all started with a messy experience back then.
FreshToHome, also Bengaluru-formed, has appeared as the most prominent opponent to Licious. The company had scooped up $121 million in its Series C round in October 2020. Zapfresh, MeatRoot and Easymeat also compete with Licious in this space.
Licious has 250 perishable items, performing at a 90-minute delivery promise to consumers across 110 delivery centres from five processing centres. The farm-to-fork period was 24 to 36 hours. From ready-to-cook to cold cuts to chicken spreads, which Licious started this year, the business has opened its arms across the complete spectrum of these products.