Meat-ordering service Licious raises Series A funding from Mayfield Mgt
Firm sources fresh chicken, lamb and seafood, and processes it before delivering at customer's doorstep within 90 minutes of order placement
 "Meat-ordering service Licious raises Series A funding from Mayfield Mgt")
Mohandas Pai-backed meat ordering service Licious has secured an undisclosed amount of funding from Mayfield India Management as part of its Series A round. The Bengaluru firm which opened its door nine months ago plans to expand its service to more cities in India.
Having registered tenfold growth in the four months since the company raised its angel round from individuals such as Kanwaljeet Singh, Mohandas Pai, Kaushal Agarwal and others, it now employs over 160 people in Bengaluru.
"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," said Abhay Hanjura, co-founder of Licious, in a statement.
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Licious sources fresh meat - chicken, lamb and seafood - and then processes it before delivering it to a customer's doorstep within 90 minutes of them placing the order. The company is also looking to expand its offering to customers in the coming months.
"The consumer fresh meat value chain in India is highly fragmented. Licious is building a brand which stands for superior quality and hygienic meat products delivered to the consumer's doorstep" said Nikhil Khattau, managing director at Mayfield India Management.
The firm not only owns and runs its own processing unit, but has also innovated on packaging, using patented vacuum sealed containers in order to avoid contamination. Licious is looking to use technology to improve efficiency across the entire value chain rather than just in the delivery, thereby helping it better control costs.