Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Companies / Start-ups/  Licious raises $192 mn from investors led by Temasek, Multiples PE
BackBack

Licious raises $192 mn from investors led by Temasek, Multiples PE

Going ahead, Licious plans to bolster its presence through multiple geographies and channels, deploy better tech and supply chain practices and innovation

Licious has seen huge growth of over 500% in the last year and delivered to more than 2 million unique customers till date.Premium
Licious has seen huge growth of over 500% in the last year and delivered to more than 2 million unique customers till date.

BENGALURU: Fresh meat and seafood e-tailer Licious has raised $192 million in a Series F funding round led by Singapore-based investment firm Temasek and Multiples Private Equity, it said on Friday.

Brunei Investment Agency also participated in the round along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund and Vertex Ventures Southeast Asia and India.

A few early investors have exited Licious with this round.

The Bengaluru-based startup said it will deploy the funds towards more investments in tech-led supply chain transformation, quality improvement and customer experience elevation and also for expanding its presence in more Indian cities, powering the international expansion plan, augmenting capabilities in existing markets, strengthening its omnichannel presence and fresh product launches.

Licious has seen a growth of more than 500% in the past year and delivered to more than 2 million unique customers till date, it said.

Avendus was the exclusive financial adviser to Licious for the transaction.

“This is just the beginning in our pursuit of building an exemplary and iconic tech-led D2C (direct-to-consumer) 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. With rapidly increasing protein consumption being driven by a vast majority of Indian consumers, it was a matter of time before the larger global investor community took part in this ambitious and transformative journey," said Vivek Gupta and Abhay Hanjura, co-founders, Licious.

Temasek and Multiples’ confidence in Licious is a watershed moment in the context of the category coming of age and occupying the front row in consumer businesses in the nation, the co-founders said.

“Abhay and Vivek have revolutionized 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," said Sridhar Sankararaman, MD, Multiples.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Madhurima Nandy
I am a part of the long story team at Mint, and write on real estate, infrastructure, e-commerce, urban issues among others. I have over 20 years of experience as a journalist. As a long-story writer, I tell stories behind the news to capture the larger picture through an analytical lens, with authenticity.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 02 Jul 2021, 11:27 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App