Licious will use the funds to strengthen its back-end and to expand into newer markets

Meat and fish ordering platform Licious raises 10 million funding
Atom Startups Wednesday, March 29, 2017 - 12:34

Online meat and fish ordering platform Licious has raised Rs 65 crore in a series B funding from a group of investors.

According to a report by VCCircle, Delightful Gourmet, which runs Licious raised funds from Mayfield India, Mohandas Pai’s 3one4 Capital, Russia-based Sistema Asia Fund and Korea-based Neoplux Technology Fund.

The company will use the funds raised to expand its operations to other cities in India including Delhi-NCR and Hyderabad, the report says.

Vivek Gupta, co-founder, Licious said in a statement by the company that this series B funding will help the company beef up its back-end infrastructure. “It will greatly aid us in expanding in newer markets after strongly laying the foundation in the Bangalore market,” he added.

Licious was founded in June 2015 by Gupta and Abhay Hanjura. It runs an end-to-end business model for meat delivery that comprises procurement, processing, storage and delivery and has a customer base of nearly 60,000. Once a customer orders from them, the company claims to deliver the order within 90 minutes.

According to VCCircle, Licious raised around Rs 19.9 crore around April 2016 in a series A round from Mayfield, which has been an early stage investor with the company.

In 2015, Licious received $1 million in seed investment from former Infosys board member and CFO Mohandas Pai, former co-founder and senior managing director of Helion Venture Partners Kanwaljit Singh and a few undisclosed investors.

Even at a time when beef is being banned in some states in India, the meat ordering and delivery business has been catching up in the past few years. There are other players too, like Gurgaon-based DSM Fresh Foods, which runs ZappFresh and Pune-based EasyMeat.

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