Online meat service brand Licious expands to Mumbai

Online meat service startup run by Delightful Gourmet, today announced that it has expanded its services to Mumbai and Pune markets. The Bengaluru-based company had raised a round of funding of $25 million in December 2018. The four-year-old brand is already present in Bengaluru, Hyderabad, NCR and Chandigarh.

Unlike in these markets Mumbai and Pune with their strategic coastal location have a constant supply of seafood and meat. However, growing consumer concerns about the quality of meat and seafood prompted Licious to venture into these predominantly unorganised markets, the company said.

“The addressable market in Mumbai and Pune are very different from our earlier markets. The consumers here seem spoilt for choice, yet there is a huge unmet demand for hygienic and fresh, meat, fish, seafood and meat-based products,” Vivek Gupta, cofounder of Licious, said in a statement.

In December 2018, the company raised $25 million investment led by Japan’s Nichirei Corp in Series-D round of funding, along with existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, UCLA, Sistema Asia Fund. The funds are apparently being used to strengthen their market presence, by expanding to seven new markets, including Mumbai and Pune, this year.

The company, which was founded in 2015, offers a product portfolio of fresh seafood, meat and value-added products like spreads, marinades and pickles in the fragmented $40 billion meat ecosystem of India.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/online-meat-service-brand-licious-expands-to-mumbai/69042470