News Update
Licious turns unicorn after $52-million funding
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ByManjeet Singh | October 5, 2021
ET reported that Licious raised $52 million from IIFL’s Late Stage Tech Fund and Avendus to fund its Series G round. With this round, the company has reached a post-money valuation of $1.05 billion, making it the newest member of the unicorn club of companies worth more than a billion dollars.
Vivek Gupta, the cofounder of Licious, has said that the funds will be used to further expand the business offline, develop the Licious ready-to-eat product portfolio, and expand our geographic presence.”
“We will opportunistically look at growing inorganically by acquiring smaller businesses in the ancillary segments and business areas,” Gupta added.
Founded in 2015 by Vivek Gupta and Abhay Hanjura, the direct-to-consumer fresh meat and seafood brand, currently serves 14 Indian cities such as Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Jaipur, Coimbatore, Kochi, Puducherry, Vizag, Vijayawada and Kolkata.
To date, it has served more than 2 million customers. Across all of its markets, the company serves over 1 million orders per month with over 90% repeat consumption.
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