Mumbai, Sep 27: Investec Capital Services (India) Ltd (Investec India) on Thursday said that it acted as the exclusive financial advisor to Licious, a leading Indian meat and seafood brand in raising USD 25m Series C Fundraise.
The funding round was led by Bertelsmann India Investments, Vertex Ventures along with UCLA. Existing investors Mayfield India, Sistema Asia Fund, 3one4 Capital and Innoven Capital also participated inthe round, a statement said.
The funds will be used to expand to new cities, fostering the value-added product category, and strengthening the supply chain.
This is a second fundraise by Investec India this September.
Earlier, the company had announced the successful fundraise for Kissht, India’s leading consumer fin-tech business house.
Frankie Brown of Investec India said ''In a large and unorganised market with broken supply and demand side, there clearly exists in our view a huge opportunity to build a large consumer brand in India’s meat market.
Licious founders have assembled an excellent team with strong execution capabilities and built an outstanding quality of business and in our view clearly have an advantage to be a market leader. We are delighted to have advised them on a successful USD25m Series C fundraise with Vertex and Bertelsmann as two lead investors to place them perfectly for the next chapter in the Licious story.''
Licious was launched in September 2015 by Abhay Hanjura and Vivek Gupta, who sensed a huge business opportunity in offering prime quality meat products in a market that was otherwise dominated by the unhygienic and unreliable wet market followed by frozen meat options, both of which are unpopular workaround for Indian consumers. (UNI)