Funds raised through Series F2 will be used for investments in technology that will aid category development and improve the overall customer experience.
Meat delivery and D2C start-up Licious announced a $150 million financing round on Tuesday led by Singapore-based Amansa Capital, along with participation from Kotak PE and Axis Growth Avenues.
Existing investors also took part in the round, including prominent angel investors such as Nithin and Nikhil Kamath of Zerodha, BoAt’s Aman Gupta and Haresh Chawla, partner, True North.
The current round comes just six months after the company became the first D2C (direct-to-consumer) unicorn in the country when it last raised $52 million in October 2021. In addition, Licious raised $192 million in July 2021 in a Series F financing round, led by Temasek and Multiples Equity, making it one of the best-funded companies in the meat delivery category. To date, the start-up has raised approximately $530 million in funding, excluding the current round.
Funds raised through Series F2 will be used for investments in technology that will aid category development and improve the overall customer experience. The company will also use the money to invest in strategic acquisitions and expand its brand reach.
“Today, Licious is the most highly regarded D2C start-up in India. This valuation is a direct result of the value we have created for our stakeholders. The growing interest from investors – both from India and abroad is an additional guarantee that obsession with customers, quality and service standards are the pillars of the best companies,” said Vivek Gupta & Abhay Hanjura, co-founders of Licious, in a joint statement. statement. .
Founded in 2015 by Abhay Hanjura, Varun Sadana and Vivek Gupta, Licious is a D2C brand that sells a range of meat and processed meat products in raw fresh meat, seafood, marinades and ready-to-eat categories. The market, valued today at $40 billion, is currently largely led by offline organized meat brands and also several disorganized stores. However, with the advent of hyper-local delivery, Licious was one of the brands to start delivering food to your home using a mobile app.
Based on the farm-to-table business model, Licious manages the entire back-end supply chain, driven by strict cold chain control to maintain the quality and freshness of each product from the moment of purchase until it reaches the end consumer.
Over the past six years, Licious has witnessed a 300% growth and delivered more than 3 million packs of world-class meat products to consumers in 17 Indian cities. Licious also said in a statement that it currently serves more than 2 million orders per month with over 90% repeat consumption across all markets.
“We are delighted to partner with Licious. Thanks to Licious’s focus on quality and strong execution, it successfully creates a accustomed and loyal customer base. We believe that Licious, led by Abhay and Vivek, is best positioned to meet the demand for fresh meat and seafood in India. We are excited to partner with Licious on this journey,” said S Sriniwasan, MD, Kotak Investment Advisors.
This post Licious raises $150M from Amansa Capital, Kotak PE and others
was original published at “https://www.financialexpress.com/industry/licious-raises-150-million-from-amansa-capital-kotak-pe-and-others/2462042/”