Fresh meat and seafood brand Licious secured $30 million in Series E round

Fresh meat and seafood brand Licious has scooped up $30 million in Series E round, maintaining its lead as the most funded startup in this space.

It is led by Vertex Growth Fund, the funding round also saw participation from existing investors - 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund.

The Bengaluru-based startup led by Abhay Hanjura has raised close to $95 million till date, which includes $1 million seed round in 2015, $3.5 million Series A round in 2016 and $10 million Series B round in 2017.

Licious operates in nine cities, including Bengaluru, NCR, Hyderabad, Chandigarh, Panchkula, Mohali, Mumbai, Pune, and Chennai and has built a farm-to-fork business model handling entire back-end supply chain – Right from procurement, processing, storage to reach the end consumer.

With over 2,000 employees base, the company claims to deliver the order within two hours and process more than 17,000 orders a day. The company has burnt Rs 148.5 crore ~ $20 million as total expenditure, which is two times more than what it spent in FY18. For achieving Rs 1,000 crore in annual revenue in the next four years will require more focus while expanding operations and controlling losses.