Online fresh meat brand Licious raises $30 Mn in Series E funding round By Elets News Network - 17 December 2019
The Bengaluru-headquartered online fresh meat brand Licious has announced that it has raised USD 30 million from Singapore-based Vertex Growth Fund in Series E funding round.
The round was also participated by the existing investor 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund.
The company is planning to use the funds for expanding its presence in Indian cities, augmenting capabilities in the existing markets, strengthening its omni-channel presence in the market, and powering the new launch of products, especially the ready-to-eat category.
The company also said that “it will focus on upgrading the Indian meat and seafood ecosystem by bolstering technological intervention, expanding its pool of employees, and training them on niche skills.”
The company was launched in 2015 by Abhay Hanjura and Vivek Gupta. The company was formed to make a food brand that will offer prime quality meat products, which is otherwise sold in unhygienic and unreliable wet markets.