India’s first D2C foodtech Unicorn Licious raises $150 Mn in Funding
- ByStartupStory | March 15, 2022
Licious, a Bengaluru-based India’s first D2C foodtech unicorn raised about $150 Mn led by Singapore-based Amansa Capital, alongside Kotak PE and Axis Growth Avenues AIF – I. Existing investors such as Zerodha’s Nithin & Nikhil Kamath, boAt’s Aman Gupta and Haresh Chawla, Partner, True North also participated in the Series F2 round.
The gourmet meat delivery platform has been used in the current round following a unicorn-making round of around $52 Mn in October 2021. In its Series F round led by Temasek, Brunei Investment Agency and existing investors Bertelsmann India Investments, 3one4 Capital, Vertex Growth Fund, and Vertex Ventures, it had raised about $192 Mn previously.
A total of $360 Mn has been raised by Licious from multiple investors including the current round.
The startup has claimed to be the highest valued D2C brand in India, adding this round. It is likely to have crossed $2 Bn while its valuation is undisclosed; Peeyush Bhansal’s Lenskart included as the highest valued D2C unicorns in India valued at $2.5 Bn and $1.9 Bn has been valued by FirstCry and a valuation of $1.2 Bn by The Good Glamm Group, among others.
Licious was founded in 2015 by Abhay Hanjura and Vivek Gupta. It functions on the farm-to-fork business model. Stringent cold chain control, procurement, processing and storage included in the entire back-end supply chain has been owned by the startup, so that the products’ quality and freshness is maintained right till the time it reaches the customers from the initial stages.
Licious specialises in chicken breast, chicken drumsticks, goat keema and lamb chops, among others, in the fresh meat category. Besides this, Licious also offers a range of fish and seafood products, which also includes sardines and prawns, basa fillet, mackerel, etc.
Exotic meat varieties like turkey, blue crab, quail and Atlantic salmon are also dealt by Licious. In order to include value-added products to its fresh meat and seafood portfolio with spreads, marinades and pickles, the startup has also expanded its catalogue.
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