Business

Meat e-tailer Licious 29th unicorn in 2021 – Times of India

CHENNAI/ NEW DELHI: Contemporary animal protein direct-to-consumer (D2C) startup Licious is India’s twenty ninth unicorn this yr after elevating a series-G funding of $52 million from new traders — IIFL AMC’s tech fund and Avendus FLF (Future Leaders Fund). The corporate stated its valuation has crossed $1 billion after this spherical.
With over 95% of Licious’ gross sales taking place through their very own app and web site and provided that startups like FirstCry and Nykaa function extra as marketplaces, Licious is the primary unicorn within the rising D2C section.
Earlier in July, Licious raised $192 million in a series-F funding spherical led by Temasek & Multiples, making it the best funded firm within the contemporary animal protein enterprise class then.
“Regardless that the funding for the D2C sector has grown considerably, FMCG remains to be not thought-about essentially the most engaging class. We anticipate that Licious’ unicorn standing will change that,” Licious co-founders Vivek Gupta and Abhay Hanjura stated. The founders added that they may use the funds to double down on tier-2 and -3 markets, that are rising quick lately and in addition strengthen product and tech groups.
Unfold throughout 14 cities, the corporate stated its annual income run price is round Rs 1,000 crore, and it recorded over 500% development over the last yr. Licious has delivered to greater than 2 million distinctive prospects until date with over 90% repeat prospects.
Meat supply sector in India is gaining world investor consideration. From being pretty unorganised and largely depending on native distributors, D2C startups that management the availability chain from procurement to supply are being checked out with eager curiosity. Contemporary To House, a meat supply platform had raised $121 million final yr, whereas Zappfresh can be seeking to shut a $10-million fund increase quickly.
What makes this fund-raise and valuation vital for a lot of meals gamers within the nation is that whereas the D2C sector noticed a speedy development and investments since final yr, food-related classes weren’t thought-about essentially the most engaging. Licious entry into the unicorn membership will enhance probabilities of different D2C startups to have the ability to increase funds and most significantly at proper valuations. The corporate’s assertion forecasts the D2C market measurement in India to be $25 billion by 2025.




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