Meat and seafood delivery firm, Licious, was founded in 2015 by Abhay Hanjura and Vivek Gupta. This firm works on farm-to-fork business model and it owns the entire back-end supply chain.
The company announced on Monday that Licious had raised $25 million in a Series-D growth round. This was led by Japan’s public-listed conglomerate Nichirei Corp, along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, UCLA and Sistema Asia Fund.
Abhay Hanjura and Vivek Gupta, co-founders, Licious, said, “Building a transformational and category-leading food brand in an extremely complex environment requires conviction and inventive thinking, and we are glad we are on the right path. These funds will greatly aid our vision to build an Indian food brand with a global outlook.”
The company is planning to start its business in seven cities including Mumbai, Pune and Chennai, in 2019. Licious currently caters to customers in Bengaluru, Delhi-NCR and Hyderabad. The fund will be used to strengthen company’s market place, supply chain and value-added product portfolio.
Licicous is happy to have strong partnership with Nichirei Corp. This would help the company to build next generation cold supply chain and other innovations in the food category, said Pankaj Makkar, managing director, Bertelsmann India Investments.
In September this year, Licious had earlier raised $25 million in Series-C round led by Bertelsmann, Vertex Ventures Southeast Asia and India, along with UCLA. Existing investors like Mayfield India, 3one4 Capital, Sistema Asia Fund and InnoVen Capital had also taken part in this.