Emerges as India’s first D2C Unicorn
Bengaluru-based Licious has emerged as India’s first D2C Unicorn. The tech-powered, D2C fresh animal protein brand in the country, achieved a billion-dollar valuation post receipt of funding worth $52 million led by IIFL AMC’s Late Stage Tech Fund.
The achievement of Licious Unicorn status is expected to not only further the journey of the brand but unlock the next level of opportunities for the animal protein sector through an inflow of investment, talent and the emergence of more start-ups that will help raise the bar in all aspects.
Vivek Gupta and Abhay Hanjura, Co-Founders, Licious, said, “Even though the funding for D2C sector has grown significantly, FMCG is still not considered the most attractive category. We expect that Licious’ Unicorn status will change that. The fresh meats and seafood sector are still largely underserved and unorganised that holds a vast opportunity of $40 billion. As the category leader, we aim at paving the way for the second wave of young start-ups that can join hands in fully harnessing the potential that the industry has to offer. We will continue to build the category through investments in technology for supply chain excellence, product innovation, talent, and vendor partner upgrades.”
They added,” In the coming years, you will see Licious work towards building a sustainable, responsible business that will reimagine the animal protein category in India through an optimal mix of global influence & products curated for the Indian palate. But most of all, you will see us championing the cause of the fresh meats and seafood sector as we continue to put it in the front row of consumer businesses in India.”
The company also recently announced their pledge to comply with the lofty global ESG standards, setting new benchmarks for sustainability and governance.
