Licious Raises $192M In Series F Funding Round Led By Temasek, Multiples PE
Licious, a consumer food startup providing fresh meat and seafood, has raised $192 million in a Series F funding round led by Temasek, the Singapore-based investment firm, and Multiples Private Equity.
Brunei Investment Agency and existing investors Bertelsmann India Investments, 3one4Capital, Vertex Ventures Southeast Asia and India, and Vertex Growth Fund also participated in the funding round.
This round of funding makes the consumer food startup the highest funded company in the segment. As per the startup, the funding will be used to deeper its investment in technology-led supply chain transformation, quality improvement, and customer experience elevation.
Licious: Range Of Meat & Meat Products
Started by Abhay Hanjura and Vivek Gupta, Licious is present in 14 Indian cities with 3,500+ employees. The consumer food startup claims to have successfully delivered to more than two million unique customers to date and seen an unprecedented growth of over 500% during the last year, followed by the continuing momentum of the same.
Speaking on the development, Vivek Gupta and Abhay Hanjura, Co-founders of 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.”
Setting new benchmarks for sustainability and governance, the consumer food startup recently announced its pledge to comply with the lofty global ESG standards.
The startup also plans to expand its presence in more Indian cities, powering the international expansion plan, augmenting capabilities in existing markets, strengthening omnichannel presence, and powering new product launches.
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