Meat startup Licious raises $192 mn from Temasek, others at $650 mn valuation
Licious has raised $286 million so far, and following the latest round of fundraising, the online meat startup is reportedly now valued at $650 million
- Jul 3, 2021,
- Updated Jul 3, 2021 12:16 PM IST
Gourmet meat startup Licious has raised $192 million from a clutch of investors, comprising Singapore-headquartered investment company Temasek.
It was the series F funding rounding for the Bengaluru-based company. The fundraise round also saw participation from Brunei Investment Agency and existing investors such as Bertelsmann India Investments, 3one4 Capital, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India.
The online meat startup has raised $286 million so far, and following the latest round of fundraising, the company is reportedly now valued at $650 million.
Also Read: BigBasket, Licious, other start-ups find newer ways of doing business amid coronavirus crisis
"The round is led by Singapore-headquartered investment company Temasek, and Multiples Private Equity," Licious said in a statement.
With the latest round, some early-stage seed investors have exited, whereas Mayfield and Nichirei Corp have exited partially, officials told PTI. The fundraise by Lucious comprises both primary issuance and also secondary sale, they added.
The current annual revenue rate for the company is Rs 1,000 crore per annun, the officials said, declining to comment on the valuation at which the stake sale has happened.
Licious has successfully delivered to more than 2 million unique customers till date.
The funds will be deployed towards investment in technology led supply chain transformation, quality improvement & customer experience elevation.
Also Read: Demand for ready-to-eat meals spikes amid coronavirus lockdown
The company would also expand its presence in a greater number of Indian cities and power the international expansion plan.
"With every passing year, Licious has received overwhelming love and adoption across all cities of India. This is just the beginning in our pursuit of building an exemplary and iconic tech led D2C brand," said Vivek Gupta & Abhay Hanjura, Co-Founders, Licious.
There is a massive opportunity to be unlocked in this large $40 billion sector, they added.
"Temasek and Multiples have backed world class entrepreneurs and businesses across the globe and in India. Their confidence in Licious heralds a watershed moment in the context of the category coming off age & occupying the front row in consumer businesses in the nation," the two cofounders said.
Currently, Licious is present in 14 Indian cities with more than 3,500 employees.
Gourmet meat startup Licious has raised $192 million from a clutch of investors, comprising Singapore-headquartered investment company Temasek.
It was the series F funding rounding for the Bengaluru-based company. The fundraise round also saw participation from Brunei Investment Agency and existing investors such as Bertelsmann India Investments, 3one4 Capital, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India.
The online meat startup has raised $286 million so far, and following the latest round of fundraising, the company is reportedly now valued at $650 million.
Also Read: BigBasket, Licious, other start-ups find newer ways of doing business amid coronavirus crisis
"The round is led by Singapore-headquartered investment company Temasek, and Multiples Private Equity," Licious said in a statement.
With the latest round, some early-stage seed investors have exited, whereas Mayfield and Nichirei Corp have exited partially, officials told PTI. The fundraise by Lucious comprises both primary issuance and also secondary sale, they added.
The current annual revenue rate for the company is Rs 1,000 crore per annun, the officials said, declining to comment on the valuation at which the stake sale has happened.
Licious has successfully delivered to more than 2 million unique customers till date.
The funds will be deployed towards investment in technology led supply chain transformation, quality improvement & customer experience elevation.
Also Read: Demand for ready-to-eat meals spikes amid coronavirus lockdown
The company would also expand its presence in a greater number of Indian cities and power the international expansion plan.
"With every passing year, Licious has received overwhelming love and adoption across all cities of India. This is just the beginning in our pursuit of building an exemplary and iconic tech led D2C brand," said Vivek Gupta & Abhay Hanjura, Co-Founders, Licious.
There is a massive opportunity to be unlocked in this large $40 billion sector, they added.
"Temasek and Multiples have backed world class entrepreneurs and businesses across the globe and in India. Their confidence in Licious heralds a watershed moment in the context of the category coming off age & occupying the front row in consumer businesses in the nation," the two cofounders said.
Currently, Licious is present in 14 Indian cities with more than 3,500 employees.