Meat brand Licious, operated by Delightful Gourmet Pvt. Ltd, has raised $30 million (Rs 213 crore at current exchange rate) in a Series E funding round led by Singapore-based Vertex Growth Fund.
Other firms that participated in the investment round include 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund, the company said, according to reports.
The funding comes after the online brand forayed into the bricks-and-mortar format and ready-to-eat products.
The Bengaluru-based startup said that it will use the funds it has raised for expanding its presence in several Indian cities, YourStory reported. It will also use the capital to augment its presence in existing markets, as well strengthen its omnichannel presence and focus on new product launches.
VCCircle has reached out to Licious on the details of the Series E round and will update this report accordingly.
Licious was founded by Abhay Hanjura and Vivek Gupta in 2015. The company says it focuses on building a brand that provides prime-quality meat products to consumers. In an interaction with VCCircle in September, Gupta said that the company has a network of over 200 contractors.
The co-founder further went on to say that the startup was focusing on expanding into omnichannel formats.
The latest capital infusion comes after it raised $25 million (around Rs 185 crore) in a Series D funding round in December last year. The round was led by Japan’s Nichirei Corporation.
Prior to that, it raised a $25 million Series C round in September that year, with the round being led by Bertelsmann and Vertex Ventures Southeast Asia and India. In March 2017, it raised $10 million (Rs 65 crore) in a Series B round, with investors including Mayfield India, 3one4 Capital, Sistema Asia Fund and South Korea-based Neoplux Technology Fund.
