India-based online meat and fish retailer Licious raised $30m on Monday in a series E round featuring Bertelsmann India Investments and Sistema Asia Fund, vehicles for media group Bertelsmann and conglomerate Sistema.
Singaporean state-owned venture capital fund manager Vertex led the round through its Vertex Growth Fund, also investing through Vertex Ventures Southeast Asia and India. The participants were filled out by VC firm 3one4 Capital.
Licious operates an online platform that sells and delivers a variety of meats, seafood, eggs and spreads to customers in nine Indian cities. The series E proceeds will fund the extension of the company’s offering into ready-to-eat products and expansion into new markets.
The round valued Licious’ parent company, Delightful Gourmet, at $250m to $300m, sources told the Economic Times. It has now raised approximately $94m since being founded in 2015.
Sistema Asia Fund first invested in Licious through a $10m series B round in early 2017 that was led by Mayfield India and backed by 3one4 Capital and Neoplux Technology Fund, a subsidiary of conglomerate Doosan.
Bertelsmann India Investments, Vertex Ventures and UCLA co-led the company’s $25m series C round in October 2018, investing with Sistema Asia Fund, Mayfield India, 3one4 Capital and InnoVen Capital.
Bertelsmann India Investments, Sistema Asia Fund, Vertex Ventures and UCLA subsequently returned for a $25m series D round two months later that was led by frozen food producer Nichirei.
