Meat delivery firm Licious raises $25 million in Series-D round

By: | Published: December 11, 2018 3:32 AM

Licious was founded in 2015 by Abhay Hanjura and Vivek Gupta. The firm operates on a farm-to-fork business model where it owns the entire back-end supply chain

Licious is present in Delhi-National Capital Region, Bengaluru and Hyderabad. (Representational photo)

Meat and seafood delivery firm Licious on Monday announced it had raised $25 million in a Series-D growth round, led by Japan’s public-listed conglomerate Nichirei Corp, along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, UCLA and Sistema Asia Fund.

The company said it plans to start operations across seven cities, including Mumbai, Pune and Chennai, in 2019 and the funds will be used to further strengthen market presence, portfolio of value-added product portfolio and supply chain.

Pankaj Makkar, managing director, Bertelsmann India Investments, said with Nichirei Corp, the firm was excited to have a strong partner which would help build next generation cold supply chain and other innovations in the food category.

Licious was founded in 2015 by Abhay Hanjura and Vivek Gupta. The firm operates on a farm-to-fork business model where it owns the entire back-end supply chain. Licious is present in Delhi-National Capital Region, Bengaluru and Hyderabad. The firm claims it enjoys 90% repeat business monthly.

Licious had earlier raised $25 million in Series-C round in September led by Bertelsmann, Vertex Ventures Southeast Asia and India, along with UCLA. Existing investors Mayfield India, 3one4 Capital, Sistema Asia Fund and InnoVen Capital had also taken part.

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