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Following a $192 Million Funding Round, Licious Becomes Highest Funded Startup in its Segment

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Online fresh meat and seafood brand Licious has raised a whopping $192 million in series F funding led by Temasek, the Singapore-based investment firm, and Multiples Private Equity. The round also saw participation from existing investors3one4Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Vertex Growth Fund along with Brunei Investment Agency coming onboard as a new investor.

A few early-stage investors have also exited the company with this round of funding. Post this round, Licious has become the highest funded player in the fresh meat delivery segment.

Licious will utilize the funds towards deeper investment in technology-led supply chain transformation, quality improvement, and customer experience elevation, along with expanding presence in a greater number of Indian cities, powering the international expansion plan, augmenting capabilities in existing markets, strengthening omni-channel presence, and powering new product launches.

Based in Bangalore, Licious is a fresh meat and seafood delivery startup. Founded in 2015 the firm has become a market leader in the segment and works on a farm-to-fork model, owning the entire back-end supply chain and cold chain. Present currently in 12 Indian cities, the startup has over 3,500 employees so far.

Vivek Gupta and Abhay Hanjura, Co-founders, Licious, said, “With every passing year, Licious has received overwhelming love and adoption across all cities of India. This is just the beginning of our pursuit of building an exemplary and iconic tech-led D2C brand. There is a massive opportunity to be unlocked in this large $40 billion sector, which has hitherto been devoid of safety, innovation, quality, and sustainability standards."

"In the coming years we will bolster our presence through multi-geo and channel presence, unlocking true disruption for the industry through deployment of top-notch tech and supply chain practices and innovating the meat and seafood product roadmap in a way that India has never experienced before,” the founder duo added.

Sridhar Sankararaman, Managing Director, Multiples, said,"Abhay and Vivek have revolutionised the purchase of poultry, seafood, and meat in the country, delighting customers with their promise of quality, freshness, and timely delivery. Their obsession with customers and quality gives them an eternal edge to create Licious as a category leader and as one of India’s most admired consumer brands. We are proud to be a partner in this journey”.