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Licious-Funding

Licious raised $3 million in Series A funding

Licious a meat and fish ordering startup has raised $3 million in Series A round funding from Mayfield India Management. It has also invested in comapanies like Simplilearn, Amagi etc. The funds will be used to expand their services in other cities including Delhi-NCR in the next 6 months.

Licious was founded in June 2015 by Abhay Hanjura and Vivek Gupta and had raised $1 million in September from Angel Investors such as Kanwaljeet Singh, Mohandas Pai and Kaushal Agarwal last year.

Abhay Hanjura co-founder of Licious said that

“We are now operating at optimal levels at Bangalore and follow the ‘zero inventory’ model successfully. It is now time to move to other parts of the country,”

Licious-Funding

In the next 3 years company is planning to expand their business in 11 cities and to target 100,000 orders in a city. The number of orders has grown from 1000 in the first month to 15,000 in six months.

The company covers entire Bangalore city through 11 centres from where the meat and fish are delivered to customers. The company aims to achieve 50,000 orders a month in the city before expanding to other cities, said Hanjura.

Licious a pioneer among food-tech startups which has 150 employees and claims to deliver within 90 minutes after ordering. The products offered by Licious are fresh chicken, seafood, lamb, cold-cuts and marinates. In next few days company is planning to add some more innovative products.

 

 

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