Direct-to-consumer (D2C) of fresh animal protein startup Licious India is the country’s 29th unicorn in 2021 after it has raised Series G funding of $52 million of tech fund from IIFL AMC and Avendus FLF (Future Leaders Fund), the new investors. The company’s valuation exceeded $ 1 billion after the funding, said the company.
As much as 95% of sales of Licious happen through their website and app, Licious now is the first unicorn in the D2C sector. In July 2021, as much as $192 million was raised in a Series F funding round led by Temasek & Multiples, which made it the highest-funded organization in the fresh animal protein business sector. More about Licious is described in this article.
Licious India – Few aspects you must be aware of
The company has its presence in as many as 14 cities, and its annual revenue run rate is approximately INR 1000 crore, and growth the company recorded was above 500% last year. Licious online has delivered two million-plus consumers to date, and it boasts of 90% of repeat customers.
India’s meat delivery segment has attracted attention from investors across the globe. Unlike the conventional setup where the local vendors used to supply animal protein, the animal fresh protein startups that monitor supply chain logistics from the time the meat is procured to the time it is delivered to the customers is gaining popularity and has attracted adequate attention.
Other meat delivery platforms like Fresh to Home and Zappfresh raised as much as US$121 million and US$10 million respectively last year, while Licious India raised $US 192 million in Series F July the previous year.
The total evaluation and this fundraising are significant because although the D2C segment witnessed faster growth in the country, the food categories did not receive much hype and attention. The evolution of Licious India as a unicorn will enable other D2C companies to opt for fundraising as well, and even more important is at the right kind of evaluations. As per the company’s forecast, the size of the D2C market in the country is slated to be USD$ 25 billion by 2025.