Foodtech Unicorn Licious Raises $150 Million in Series F2
The round was led by Amansa Capital, Kotak PE & Axis Growth Avenues AIF - I
Foodtech Unicorn Licious has raised $150 million in Series F2, led by Amansa Capital, Kotak PE & Axis Growth Avenues AIF - I. The round comes six months after the company became a unicorn. Existing investors have also participated in the round along with prominent angel investors including Nithin & Nikhil Kamath of Zerodha, BoAt's Aman Gupta and Haresh Chawla, Partner, True North.
"Today, Licious is the highest valued D2C start-up in India. This valuation is a direct outcome of the value that we have created for our stakeholders- investments made towards building the category have borne us rich dividends and have propelled growth for the company and its people. The growing interest of investors- from India and abroad alike is an added assurance that obsession with customers, quality and service standards are the pillars of the best businesses. We are delighted to welcome Amansa Capital, Kotak PE and Axis Growth Avenues AIF - I along with the angel investors to the Licious family and thank our existing investors for reaffirming their faith in our vision," said Vivek Gupta, co-founders, Licious.
"The role of a category pioneer is bestowed with many responsibilities as well, which Licious continues to honor. We are committed to building a sustainable, responsible business that will reimagine the animal protein category in India through an optimal mix of global influence & product innovation best suited for India. Through it all, we pledge to not lose sight of our mission statement that we adopted on day one- if we can't feed it to our families, we won't sell it to our consumers," added Abhay Hanjura, co-founder, Licious.
The funds raised through Series F2 will be utilized for investment in technological intervention that will help category development and improve the overall customer experience. The company will also invest in strategic acquisition and widening & deepening the brand's reach.
"We are excited to partner with Licious, India's #1 D2C brand. Due to Licious' focus on quality and strong execution, it is successfully creating a habituated and loyal customer base. We believe under the leadership of Abhay and Vivek, Licious is best positioned to serve the fresh meat and seafood need of India. We are excited to partner with Licious on this journey," said S Sriniwasan, MD, Kotak Investment Advisors Limited.
In July 2021, Licious raised $192 mn in their Series F funding Round, led by Temasek & Multiples, making it the highest-funded company in the fresh animal protein business category. Brunei Investment Agency also participated in the round along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India. Shortly after this, in Oct 2021, the company achieved a billion dollars valuation post receipt of funding worth $52mn led by IIFL AMC's Late Stage Tech Fun & Avendus FLF (Future Leaders Fund).