Licious

The Licious company founded in Bangalore in 2015 manages the online platform of the same name for sale of meat and seafood in a number of the Indian cities (Bangalore, Hyderabad, Chandigarh, Panchkula, Mokhali, Mumbai, Pune and Chennai). Service delivers fresh meat (a bird, mutton), seafood (fish, shrimps, crabs) and also marinades and sausages. The startup does not stock therefore any raw materials are purchased, processed and goes to buyers immediately or next day. More than 17,000 orders are daily processed. The company has own service on processing and packaging of products and also network of control of food.

History

2019: Investments from AFK "Sistema" fund

In the middle of December, 2019 AFK Sistema venture fund — Sistema Asia Fund — invested means in the Indian online platform for sale of fresh meat and Licious seafood. In total within the next round of financing of Licious received $30 million which are going to be invested in business expansion.

The acting investors of the online platform also took part in a round: 3one4 Capital, Bertelsmann India Investments and Vertex Ventures from Southeast Asia and India.

The AFK Sistema venture fund invested means in the Indian online platform for sale of fresh meat and Licious seafood

The staff of Licious totals more than 2000 people (to the middle of December, 2019), and the management notes that in the 2019th the sales volume of a startup grew by 300% in comparison with 2018. It is expected that by 2023 the company will begin to earn up to $140 million a year. Licious intends to use the received means for expansion of the activity in India and also is going to expand product assortment, to improve the used technologies and to optimize a supply chain.

The main competitor of Licious - the Bangalore company FreshToHome which by December, 2019 took more than 650,000 clients in 10 cities of India. As of August, 2019, the startup of FreshToHome processed 14,000 orders a day and attracted $20 million in a new round of financing.^[1]

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