Licious Raises $192M In Series F Round Led By Temasek And Multiples PE
- ByStartupStory | July 2, 2021
Licious, the online fresh meat and seafood brand, has raised Series F funding of $192 million which was led by Temasek, the Singapore-based investment firm, and Multiples Private Equiy. The fundraise has made the company highest funded in this segment. The round has seen involvement from Brunei Investment Agency and existing investors 3one4Capital, Bertelsmann India Investments, Vertex Growth Fund and Vertex Ventures Southeast Asia and India. The exclusive financial adviser to Licious for the transaction was Avendus.
A few early-stage investors have also exited the company with this investment. The company has recently announced its pledge to comply with the lofty global ESG standards, setting new benchmarks for sustainability and governance. The funds raised will be used towards deeper investment in technology-led supply chain transformation, customer experience elevation, quality improvement, along with expanding presence in a greater number of Indian cities, powering new product launches and powering the international expansion plan, augmenting capabilities in existing markets, strengthening omni channel presence.
Vivek Gupta and 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 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.”
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