Licious, the online new meat and fish brand, has raised Series F financing of $192 million. The round was driven by Temasek, the Singapore-based speculation firm, and Multiples Private Equity. This raise support makes Licious the most elevated financed organization in the section.
The round additionally saw interest from Brunei Investment Agency and existing financial backers 3one4Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Vertex Growth Fund. Avendus was the restrictive monetary counselor to Licious for the exchange.
With this venture, a couple of beginning phase financial backers have left the organization. The organization likewise as of late declared its vow to follow the grandiose worldwide ESG principles, setting new benchmarks for manageability and administration.
The subsidizes raised will be sent towards more profound interest in innovation drove inventory network change, quality improvement, and client experience rise, alongside growing presence in a more noteworthy number of Indian urban areas, fueling the global extension plan, enlarging abilities in existing business sectors, fortifying omnichannel presence, and controlling new item dispatches.
Remarking on the new round of gather pledges, Vivek Gupta and Abhay Hanjura, Co-organizers, Licious, said,
“As time passes, Licious has gotten overpowering affection and reception across all urban communities of India. This is only the start of our quest for building a commendable and famous tech-drove D2C brand. There is an enormous chance to be opened in this huge $40 billion area, which has until now been without wellbeing, advancement, quality, and maintainability principles.”
They added that with quickly expanding protein utilization being driven by a greater part of Indian buyers, it was inevitable before the bigger worldwide financial backer local area participated in this yearning and groundbreaking excursion.
“In the coming years we will support our quality through multi-geo and channel presence, opening genuine disturbance for the business through organization of top-indent tech and inventory network rehearses and advancing the meat and fish item guide such that India has never experienced.”
“We are grateful for the help we have gotten from our supporters, accomplices, and buyers. We are good to go to keep commending the incomparable Indian culinary legacy through more flavorful items and unrivaled experience,” they added.
Right now, Licious is available in 14 Indian urban communities. This 3,500+ worker solid organization is promoted as the quickest developing shopper brand in India. The organization professes to have seen an extraordinary development of more than 500% during the last year, trailed by the proceeding with force of something similar. The startup said it has effectively conveyed to in excess of 2,000,000 novel clients till date.
Sridhar Sankararaman, Managing Director, Multiples, said,
“Abhay and Vivek have reformed the acquisition of poultry, fish, and meat in the nation, enchanting clients with their guarantee of value, newness, and ideal conveyance. Their fixation on clients and quality gives them an everlasting edge to make Licious as a class chief and as one of India’s most respected shopper brands. We are pleased to be an accomplice in this excursion”.
