- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readIndian online fresh produce startup Licious banks $65m in series F money
“Meat and seafood brand Licious has scooped up a new round after a gap of 18 months, raising US$65 million from Multiples Alternate Asset Management, Brunei Investment Agency, Vertex Ventures and a few others,” reported Entrackr, citing regulatory filings.
Details
- Licious’ board has passed a special resolution to allocate 100 equity shares and 8,879 series F preference shares at 522,719.05 rupees (US$7,154.15) per share, according to regulatory filings. This brings the total funds raised to US$160 million.
- Under the financing, Multiples Alternate Asset Management has invested US$32 million, while Brunei Investment Agency and Vertex Ventures have poured in US$15 million and US$10 million, respectively.
Context:
- Founded in 2015, Licious is a consumer foods company that operates on the farm-to-fork business model. It is present in seven cities in India, and aims to reach about US$141 million in revenue by 2023.
- In December 2019, the company raised US$30 million in its series E funding round led by Vertex Growth Fund, a global firm focused on growth-stage startups.
Currency converted from Indian rupees to US dollar: US$1 = 73.12 rupees.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
