Licious Raises $ 192 Million Series F For International Expansion

Tech startup Licious, which sells fresh meat and seafood, said on Friday it had raised $ 192 million from a group of investors, including Temasek. This is the Series F funding round for a Bengaluru-based startup.

“The round is led by Singapore-based investment firm Temasek and Multiples Private Equity,” the company said in a statement.

The Brunei Investment Agency also participated in the round. Existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund and Vertex Ventures South East Asia and India also participated in this fundraising.

With the fundraising, some early stage angel investors have pulled out, while Mayfield and Nichirei Corp partially pulled out, officials said. The fundraising involves both a primary issue and a secondary sale, they said.

The company’s current annual income rate is Rs 1,000 crore per year, officials said, declining to comment on the valuation at which the stake sale took place. Licious has successfully delivered to over 2 million unique customers to date. The funds will be deployed to invest in technology-driven supply chain transformation, quality improvement and elevation of the customer experience.

The company would also expand its presence in more Indian cities and fuel the international expansion plan. Vivek Gupta and Abhay Hanjura, Co-Founders of Licious, said, “With each passing year Licious has received overwhelming love and adoption in every city in India. This is just the beginning of our quest to create an exemplary and iconic D2C brand focused on technology. “

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There is a huge opportunity to unlock in this large $ 40 billion industry, they added.

“Temasek and Multiples have supported world-class entrepreneurs and businesses around the world and in India. Their confidence in Licious heralds a turning point in the context of the category coming out of age and number one consumer company in the country, ”said the two co-founders.

Currently, Licious is present in 14 Indian cities with more than 3,500 employees.

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