India’s fresh meat and seafood brand Licious has raised USD 30 million in a Series E funding round. The round was led by Singapore-based Vertex Growth Fund. Other investors included existing backers 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund. With this round, Licious has raised a total of USD 95 million till date.
Founded in 2015, the Bengaluru-based Licious was the brainchild of Abhay Hanjura and Vivek Gupta. The 2000-employee company, which operates across seven cities in India, says it processes more than 17,000 orders a day, and is targeting Rs 1,000 crores by 2023.
Vertex Growth Fund, which is part of Singapore-based Vertex Venture Holdings, is the venture capital arm of Temasek.
The funds raised will reportedly be used towards expanding Licious’ presence across the country, augmenting capabilities in existing markets, strengthening omni-channel presence and powering new product launches, especially in the ‘Ready-to-Eat’ category.