Fresh animal protein e-com platform Licious bags USD 150 Mn in funding

By Nikita Chaurasia  | Date: 2022-03-16

Fresh animal protein e-com platform Licious bags USD 150 Mn in funding

Licious, a Bengaluru-based start-up that offers fresh seafood, meat, and other fresh animal protein online, has reportedly raised USD 150 million from a group of late-stage investors in what seems to be a prelude to the start-up’s IPO (initial public offering). Licious became the country's first D2C (direct-to-consumer) brand to become a unicorn last year.

Kotak PE, Amansa Capital of Singapore, and Axis Growth Avenues AIF led the latest fundraising round. Several existing investors as well as new angel investors participated in the new round, including Aman Gupta of BoAt, Nikhil Kamath and Nitin Kamath of Zerodha, and Haresh Chawla of True North.

According to Tracxn, the new funding, which is an extension of the USD 52 million Series F round announced last year, brings Licious' total funding to USD 488 million.

3One4 Capital, Temasek, and IIFL are among the investors in Licious, which operates an eponymous e-commerce platform that sells seafood and meat in several Indian cities. The start-up has established a supply chain system around many Indian cities in order to procure seafood and meat and deliver it fresh within hours of receiving an order.

In a joint statement, Licious Co-Founders Abhay Hanjura and Vivek Gupta stated that the valuation is a direct result of the value that the firm has created for stakeholders-investments towards establishing the category that has carried rich dividends and have catapulted growth for the company and its stakeholders.

The growing interest of investors from India and abroad is further proof that quality, customer obsession, and service standards are the pillars of the best businesses.

The firm did not provide any metrics, but it has benefited from the rise in popularity of D2C brands as a result of the pandemic. The company announced in October that its revenue had increased by more than 500% year on year.

Source Credit:

https://techcrunch.com/2022/03/14/indias-licious-raises-150-million-for-its-fresh-animal-protein-e-commerce-platform/

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More >>

More News By Nikita Chaurasia

L&T Technology Services partners with Qualcomm to amplify 5G adoption

L&T Technology Services partners with Qualcomm to amplify 5G adoption

By Nikita Chaurasia

L&T Technology Services Limited has recently announced that it is teaming up with Qualcomm Technologies, Inc., the world’s leading wireless technology innovator. With the latest collaboration, the firm plans to offer end-to-end solutions...

PNAS, Straive partner to deliver end-to-end content production services

PNAS, Straive partner to deliver end-to-end content production services

By Nikita Chaurasia

Renowned U.S.-based nonprofit and non-governmental organization, NAS (National Academy of Sciences), has reportedly collaborated with Straive, one of the leading technology-driven solutions providers for Content, EdTech, and Data. With this acquis...

Japan pushes innovations in 'deep tech' sector with solar cell technology

Japan pushes innovations in 'deep tech' sector with solar cell technology

By Nikita Chaurasia

Amid the most promising next-generation solar cell technology innovations, Enecoat Technologies, a provider of materials development services in Japan, is reportedly developing perovskite. Following its completion, the Kyoto-located start-up expec...

GIC to acquire majority shares in opulent Sani/Ikos properties

GIC to acquire majority shares in opulent Sani/Ikos properties

By Nikita Chaurasia

Singapore's sovereign wealth fund, GIC has agreed to pay around $2.2 billion to buy a majority stake in Sani/Ikos Group, a Mediterranean luxury resort operator, marking the largest transaction in the European resort market since the Covid-19 pand...

Excelra, Patcore partner to offer enhanced digital insights to customers

Excelra, Patcore partner to offer enhanced digital insights to customers

By Nikita Chaurasia

Excelra, a data and analytics solutions provider, has recently announced its partnership with Patcore, Inc., to provide better access to its analytics products and scientific data for customers in Japan. For the unversed, Excelra is one of the top...