Licious has raised $52 million (around ₹387 crores) from investors, including IIFL AMC in a Series G fundraise.
Online Startup Fundraising
Online meat startup Licious on Tuesday said it has raised $52 million (around ₹387 crores) from investors, including IIFL AMC in a Series G fundraise. The latest funding round took the company’s valuation beyond $1 billion, taking it to the unicorn list.
Bengaluru-based Licious in a statement said that it has become India’s first direct-to-consumer (D2C) unicorn with the Series G fundraise of $52 million led by IIFL AMC.
A unicorn is a privately held startup company valued at over $1 billion. The company said it has achieved a billion-dollar valuation post the receipt of funding.
Employees in company
Licious serves over 1 million orders every month with over 90% repeat consumption across markets. The company currently has over 3,500 employees.
In July, Licious raised $192 million from a clutch of investors, including Temasek, in the Series F round.
Vivek Gupta and Abhay Hanjura, Co-Founders, Licious, said: “Even though the funding for the D2C sector has grown significantly, FMCG is still not considered the most attractive category. We expect that Licious’ Unicorn status will change that”.
The fresh meats and seafood sector are still largely underserved and unorganized, which holds a vast opportunity of $40 billion, they added.
“We will continue to build the category through investments in technology for supply chain excellence, product innovation, talent, and vendor partner upgrades,” they said.
In just five years, Licious said it has witnessed a 300% growth and has served over three million packs of meat products to consumers across Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Jaipur, Coimbatore, Kochi, Puducherry, Vizag, Vijayawada, and Kolkata.
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