Temasek-backed D2C 🍖 unicorn bags $150m in series F2 fundraise

India-based Licious, a direct-to-consumer brand that sells premium meat and seafood, has raised US$150 million in its series F2 funding round.

Licious co-founders Abhay Hanjura (right) and Vivek Gupta / Photo credit: Licious

Singapore-based Amansa Capital led the new round, which also saw the participation of Kotak PE and Axis Growth Avenues AIF – I. Existing angel investors including Zerodha founders Nithin Kamath and Nikhil Kamath, BoAt founder Aman Gupta, and True North partner Haresh Chawla also joined the fundraise.

Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious is looking to disrupt India’s unorganized meat and seafood industry, which it estimates to be worth US$40 billion. The company said it serves more than 2 million orders every month, 90% of which come from repeat customers.

Licious will use the fresh funds for its growth activities and strategic acquisition plans.

“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 and product innovation best suited for India,” the company’s founders said in a statement.

See also: The decade of D2C has just begun in India

In July 2021, the startup raised US$192 million in a series F round led by Temasek and Multiples. Months later, the company achieved unicorn status with a US$52 million fundraise led by IIFL AMC’s late-stage tech fund.