Unicorn raises $ 52 million to become India’s first licensed direct consumer

0

[ad_1]

Unicorn raises $ 52 million to become India's first licensed direct consumer

Earlier this year, Lyceum assigned employee stock options to more than 1,000 employees.

New Delhi: New meat and seafood brand Lyceum announced on Tuesday that it has raised $ 52 million in the ‘Series G’ round, led by IIFL Asset Management’s Late Stage Tech Fund. With the new funding, the Bangalore-based company has become India’s first direct-consumer (D2C) unicorn. Aventus FLF (Future Leaders Fund) has invested in this round.

Initially Unicorn was a company worth over a billion dollars.

Lyceum, in a statement, said, “The D2C market in India is at a breakthrough and is expected to reach more than 100 billion by 2025. The Lyceum unicorn status record further travels the brand but the next level of opportunities for the animal protein sector through investment, talent and the emergence of all start-ups Help to elevate all aspects.

Vivek Gupta and Abhay Hanjura, co-founders of Lyceum, said in a joint statement, “Although funding for the D2C sector has grown significantly, FMCG is not yet considered a very attractive type. Opportunity and unorganized.

The two co-founders added, “In the coming years, Licius will work to create a sustainable, responsible business that will reshape animal protein in India through a combination of global influence and products suitable for the Indian palate.

Chetan Naik of IIFL AMC said, “The focus on quality, freshness and innovation has created a strong brand that has created undeniable leaders.

Lyceus’ stock options program

Earlier this year, Lyceum assigned the Employee Stock Ownership Program (ESOP) to more than 1,000 employees. This was followed by a Rs 30 crore buyback in August.

Spread across 14 Indian cities, the company has achieved an unprecedented 500% growth in the last year.

In July 2021, the meat and seafood brand raised $ 192 million in their ‘Series F’ financial round, with the private equity of Demasek and Multiples.

‘Series F’ and ‘Series G’ are late financing rounds.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here