In Series F round led by Temasek and Multiples PE, Licious raises $192M

Licious becomes the highest funded company in the segment.

The online fresh meat and seafood brand, Licious has raised Series F funding of $192 million. The Singapore-based investment firm, Temasek and Multiples Private Equity led the round. Licious becomes the highest funded company in the segment due to this fundraiser.

According to the startup, funds will be used for deeper investment in technology-led supply chain transformation, quality improvement, and customer experience elevation. Other than this, it’ll also try to expand its presence across India, and even internationally. The funds will also aid in augmenting capabilities in existing markets, strengthening omnichannel presence, and powering new product launches.

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Participation from Brunei Investment Agency and existing investors 3one4Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Vertex Growth Fund was also observed in the round. Licious’s exclusive financial adviser was Avendus for the transaction.

Co-founders of Licious, Vivek Gupta, and Abhay Hanjura said, “With every passing year, Licious has received overwhelming love and adoption across all cities of India. This is just the beginning of our pursuit of building an exemplary and iconic tech-led D2C brand. There is a massive opportunity to be unlocked in this large $40 billion sector, which has hitherto been devoid of safety, innovation, quality, and sustainability standards.”

They further shared that, “In the coming years we will bolster our presence through multi-geo and channel presence, unlocking true disruption for the industry through deployment of top-notch tech and supply chain practices and innovating the meat and seafood product roadmap in a way that India has never experienced before. We are thankful for the support we have received from our patrons, partners, and consumers. We are all set to continue celebrating the great Indian culinary heritage through more delectable products and unparalleled experience.”