Bangalore, India-based e-commerce food retailer Licious has raised USD 65 million (EUR 53.6 million) in additional funding via a Series F round.
It has now raised USD 160 million (EUR 132 million), Entrackr reported 11 June.
Licious alloted 100 equity shares and 8,879 Series F preference shares to the contributors to the new funding round, together worth around USD 65 million, according to a regulatory filing. Those investors include Multiples Alternate Asset Management, which bought in for USD 32 million (EUR 26.4 million) and purchased a secondary transfer of shares from Mayfield India Ltd. and Mayur Mukundbhai Desai. Brunei Investment Agency invested USD 15 million (EUR 12.4 million) and Vertex Ventures put in USD 10 million (EUR 8.3 million) to the Series F round. Bertelsmann Netherland, 3one4 Capital, and angel investors Akshay Ghulati and Narshing Dass Makkar also contributed.
The fast-growing meat and seafood start-up is now valued at around USD 600 million (EUR 495.2 million), Fintrackr estimated.
After the latest funding round, Licious Co-Founders Abhay Hanjura and Vivek Gupta collectively hold 21.2 percent of stakes in Licious, down from 23.8 percent previously.
New stakeholder Multiples Private Equity Fund has 10.55 percent and Brunei Investment Agency owns 2.51 percent in the retailer. 3one4 Capital has a 8.97 stake while existing investors Vertex and Bertelsmann have 11.31 percent and 8.1 percent holdings, respectively.
Licious raised USD 30 million (EUR 24.8 million) in its Series E financing round in December 2019.
Founded in 2015, Licious now operates in 16 cities, including Bengaluru, New Delhi, Mumbai, Hyderabad and Chandigarh. It operates on a farm-to-fork model and began to sell its ready-to-eat products in early 2020.
Licious’ biggest competitor is FreshToHome, which raised USD 121 million (EUR 99.8 million) in Series C funding to aid its expansion plan in October 2020. Other competitors include Zapfresh, BBDaily, MeatRoot, and Easymeat.
Photo courtesy of Licious
