Bengaluru: Bengaluru-based meat delivery startup Licious has raised $52 million at a post-money valuation of $1.05 billion, becoming India’s 29th startup to turn unicorn this year. The funding round was led by IIFL’s Late Stage Tech Fund and Avendus. Co-founded by Vivek Gupta and Abhay Hanjura in 2015, Licious raised $192 million in a Temasek-led funding round earlier this year.
“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, founders of Licious, in a joint statement. “We expect that Licious’ unicorn status will change that. The fresh meats and seafood sector is still largely underserved and unorganised that holds a vast opportunity of $40 billion.