Online meat marketplace secures $25m to scale up

Online meat marketplace secures $25m to scale up
Credit: Shutterstock.com/ El Nariz

Licious, a farm-to-fork online meat marketplace, has raised $25 million in Series D funding to open operations in seven cities across India.

The funding round was led by Japanese food company Nichirei Group, with existing investors also participating.

As well as opening new operations – in cities including Mumbai and Pune – the funding will also be used to strengthen the young brand’s market presence, expand its production portfolio and bolster its supply chain.

Speaking in a joint statement, Licious co-founder Abhay Hanjura and Vivek Gupta said: “Building a transformational and category leading food brand in an extremely complex environment requires conviction and inventive thinking, and we are glad we are on the right path.

“These funds will greatly aid our vision to build an Indian food brand with a global outlook.”

Licious was founded in 2015 with the aim of offering tasty trustworthy fresh meat in India. Last year, the company secured $10 million in Series B funding.