Tech startup Licious, which sells fresh meat and seafood, on Friday said it has raised USD 192 million from a clutch of investors, including Temasek. This is the series F funding round for Bengaluru-based startup.
“The round is led by Singapore-headquartered investment company Temasek, and Multiples Private Equity,” the company said in a statement.
Brunei Investment Agency also participated in the round. Existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Growth Fund, and Vertex Ventures Southeast Asia and India have also participated in this round of fundraise.
With this round of fundraising, some early-stage angel investors have exited, while Mayfield and Nichirei Corp have exited partially, officials said. The fund raise involves both primary issuance and also secondary sale, they said.
The current annual revenue rate for the company is Rs 1,000 crore per annun, the officials said, declining to comment on the valuation at which the stake sale has happened. Licious has successfully delivered to more than 2 million unique customers till date. The funds will be deployed towards investment in technology led supply chain transformation, quality improvement & customer experience elevation.
The company would also expand presence in a greater number of Indian cities and powering the international expansion plan. Vivek Gupta & Abhay Hanjura, Co-Founders, Licious, said, With every passing year, Licious has received overwhelming love and adoption across all cities of India. This is just the beginning in our pursuit of building an exemplary and iconic tech led D2C brand.”
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There is a massive opportunity to be unlocked in this large USD 40 billion sector, they added .
“Temasek and Multiples have backed world class entrepreneurs and businesses across the globe and in India. Their confidence in Licious heralds a watershed moment in the context of the category coming off age & occupying the front row in consumer businesses in the nation,” the two cofounders said.
Currently, Licious is present in 14 Indian cities with more than 3,500 employees.
