Latest Startup Funding News
Direct-to-consumer seafood and meat brand Licious became the first Indian unicorn in the D2C segment when the brand raised $52 million under the guidance of IIFL's Late Stage Tech Fund. It is also the 29th company that has achieved the status of a unicorn in 2021 .
As of June this year, Bengaluru's firm was able to raise $192 million in the Series F round of funding that was led by Temasek and Multiples Private Equity. Brunei Investment Agency and existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund as well as Vertex Ventures Southeast Asia and India were also part of the round.
"Even though the funding for the D2C sector has grown significantly, FMCG is still not considered the most attractive category," said Vivek Gupta and Abhay Hanjura who co-founded Licious.
"The fresh meats and seafood sector is still largely underserved and unorganised that holds a vast opportunity of $40 billion," they said.
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In the spring of this time last year Licious was able to provide ESOPs to over 1,000 employees , which included its blue-collar employees. Then, it announced the purchase of a buyback amounting to 30,000 in the month of August.
Licious was the 29th company to reach unicorn status by 2021 on its own. The company was founded in the month of April. Vedantu Professional, a networking platform designed for people working in the blue collar and gray Apna and the esports platform Mobile Premier League had joined the club following some of the other companies like Zetwerk, Grofers, Eruditus, CoinDCX, upGrad, MindTickle and BharatPe had raised new rounds with a valuation of unicorns in August.