Company Name : Licious
Funding Amount : $3 Million
Investor(s) Abhay Hanjura, Vivek Gupta
Funding Round : Series A
Bangalore-based consumer food brand Licious which was started 9 months back by Abhay Hanjura and Vivek Gupta, has raised Series A round of funding from Mayfield India II Management Ltd.
The company claims to have grown more than 10X from the last round of angel investment less than 4 months ago from marquee investors such as Kanwaljeet Singh, Mohandas Pai, Kaushal Agarwal and others.
Abhay Hanjura, Co-founder Licious said, “We are extremely excited with the faith shown in Licious by Mayfield India II Management Ltd. The funds will be put to work on product innovations, building world class products that will continue to revolutionise the fresh meat space in the country. 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 and a major part of the funds will go towards that.”
Vivek Gupta, Co-founder Licious added, “The funds will also go into marketing and occupying consumer mind space. Since we are a technology powered company and tech will help us scale, there is going to be investment on building our tech capabilities as well as investing in our resources that has grown to 160+ in Bangalore.”
Licious aims at strengthening in the B2C space by offering a clearly discernable taste and quality across their product portfolio by some bespoke and unique processes across the value chain.