Licious is a Bangalore based startup which sells fresh meat as well as seafood online and has secured an amount of $30 million in newer financing round since it seems to develop the footprint across the nation. The newer financing round which is dubbed by the Series E for 4 year old company was basically led by the Singapore based Vertex Growth Fund – said in Monday. The investors – 3 one 4 Capital, Bertelsmann of Indian Investments, Sistema Asia Fund and Vertex Ventures Southeast Asia and India also took part in this round. This Series E has pushed the Licious to raise $94.5 million.
The startup Licious operates an E-commerce platform to sell the meat along with the seafood across the 7 cities in the India. The cities include – Bengaluru, NCR, Chandigarh, Hyderabad, Mohali, Panchkula, Mumbai, Chennai and Pune. This startup doesn’t stock any kind of inventory; it processes and ships which on the same day and the next. Every day, Licious processes at least more than 17,000 orders.
This startup employs over 2000 people and has build their own supply chain network so that it can control the production and sourcing of foods. The executives of the Licious have said that the startup was developing at a healthy rate (300%) and aims to generate $140 million annually revenue by the year of 2023.
The startup competes with the Bangalore based firm named FreshToHome that has amassed over 650,000 customers across 10 cities in India. Licious will utilize fresh capitals to develop some more cities in India.