Licious raises $25 million in Series C funding round

Fresh meat and seafood brand Licious has raised $25 million in its series C funding round. The round was led by Bertelsmann India Investments, Vertex Ventures Southeast Asia and India along with UCLA.

The funding round was also led by the existing investors including Mayfield India, 3one4 Capital, Sistema Asia Fund and InnoVen Capital.

Licious will use the newly raised funds to expand to new cities, fostering the value-added product category. The funds will also strengthen the supply chain of the company.

Abhay Hanjura and Vivek Gupta, Co-founders of Licious, said, "We are extremely bullish about our plans going ahead. These funds will greatly aid us in deepening and widening our market presence and enable us to offer new products and services to our customers." 

The funding announcement follows the company's plans to enter the Mumbai and Pune markets by the end of 2018.

Founded in 2015, Licious had raised $10 million in Series B funding round in March 2017. Before that, the company had also raised seed funding, followed by Series A funding of more than $3 million.