Courtesy- The Indian Wire
A series F funding of $192 million has been raised by Licious which is an online fresh meat and seafood brand. Making Licious the highest funded company in the segment through this fundraise, the round was led by Multiples Private Equity along with Temasek which is a Singapore based investment firm.
With Avendus being the exclusive financial adviser to Licious for the transaction, including the participation from existing investors like Vertex Ventures Southeast Asia and India, Vertex Growth Fund, Bertelsmann India Investments and 3one4Capital, the round also saw participation from Brunei Investment Agency.
A few early-stage investors have exited the company due to this investment. Is setting new benchmarks for sustainability and governance, a pledge to comply with the lofty global ESG standards was announced by the company recently.
As commented by Vivek Gupta and Abhay Hanjura, co-founders of Licious, on the fresh round of fundraising, along with expanding their presence in a greater number of Indian cities, focusing on powering the International expansion plan, augmenting capabilities in existing markets also strengthening the omnichannel presence and powering new product launches, towards deeper investment in technology-led supply chain formation, the fund raised shall be deployed along with quality improvement and customer experience elevation.
It was a matter of time before the larger global investor community partook in this transformative and ambitious journey as the protein consumption driven by a vast majority of Indian consumers is rapidly increasing. Touted as the fastest-growing consumer brand in India, Licious has more than 3,500 employees and has its presence in 14 Indian cities currently.