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Wednesday, Dec 08, 2021
Outlook.com
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Licious Secures $52 Million In Series G Round, Achieves Unicorn Status

With this investment, the Bengaluru-based said in a statement it has become India's first direct-to-consumer (D2C) unicorn.

Licious Secures $52 Million In Series G Round, Achieves Unicorn Status
Licious Secures $52 Million In Series G Round, Achieves Unicorn Status
outlookindia.com
2021-10-05T13:12:39+05:30

Foodtech startup Licious said it has raised $52 million (around Rs 387 crore) in its Series G funding round from investors, including IIFL AMC.

With this investment, the Bengaluru-based said in a statement it has become India's first direct-to-consumer (D2C) unicorn.

Vivek Gupta and Abhay Hanjura, founders at 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 is still largely underserved and unorganised, which holds a vast opportunity of USD 40 billion, they said

“We will continue to build the category through investments in technology for supply chain excellence, product innovation, talent, and vendor partner upgrades,” they added.

The direct-to-consumer (D2C) startup,  which sells fresh meat and seafood, had in July raised $192 million from a clutch of investors, including Temasek, in the Series F round.

(With inputs from PTI)

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