Licious Raises $25 Mn Series D Funding led by Nichirei Corp

Bangalore-based
meat and seafood seller, Licious has raised $25 Mn in series D funding. The
current funding round was led by Nichirei Corp along with existing investors
3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia
and India, UCLA and Sistema Asia Fund.

With the
newly raised funds, the startup plans to expand into seven new cities including
Mumbai, Pune and Chennai and others. Besides, it will also strengthen its
supply chain capabilities as well as product portfolio.

Owned and
operated under Delightful Gourmet Pvt. Ltd, Licious was founded by Abhay
Hanjura and Vivek Gupta in July 2015. The startup aims to solve the problem of
finding safe, delectable, trustworthy fresh meat in India. It operates on the
farm-to-fork business model, owning the entire back-end supply chain powered by
stringent cold chain control to maintain the quality and freshness of each
product from the time of procurement, processing, storage to the time it
reaches the end consumer.

Commenting
on the current fund raise Abhay Hanjura and Vivek Gupta co-founders of Licious,
said, “Building a transformational and category leading food brand in an
extremely complex environment requires conviction and inventive thinking, and
we are glad we are on the right path. These funds will greatly aid our vision
to build an Indian food brand with a global outlook.”

Licious
currently operates in Bengaluru, Delhi NCR and Hyderabad. The startup claims to
have over 60,000 customers with 90% repeat business on a monthly basis. The
company has so far raised $64 million which include a $25 million in series C
round, $10 million in Series B round and over $3 million in Series A round of
funding.

Liciouscompetes with Zappfresh, a similar startup who had raised $3 million in March this year. The funding round was led by Amit Burman, the vice-chairman of DaburIndia Ltd. Besides, there are several other startups like EasyMeat, BrownApron, and MeatRoot among others.

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