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.