Licious, Bangalore based online marketplace for meat has raised $3 Million from Mayfield India.
The funds will be largely used in expansion across various Indian cities along with innovation and adding more products to the portfolio.
Speaking on the development, Abhay Hanjura, Co-founder of Licious stated that the startup has been successfully working with the zero Inventory model in Bangalore and they have been fairly successful. The next aim is to take that initiative to more markets across the country and the raised funds will go towards the same. Also, part of the investment will go towards building better technology and marketing to get more customers on board.
The startup considers itself more of a tech startup and they want to invest heavily on providing the best tech experience to the users while they are on the platform. Part of it will also add value to the 160 member team in Bangalore in the time to come.
Licious was launched in 2015 with an aim to cater to the needs of meat eating audience. It has been fairly successful in providing fresh, safe and trustworthy meat. The startup is currently working with 5 broader categories such as fresh chicken, lamb, seafood, marinates and cold-cuts. It is also planing to add more innovative options in the portfolio in the time to come.
Following the zero inventory model, meat products are sourced by the startup after quality checks. It is then processed in world class processing units owned and operated by Licious. The order can be placed using mobile app or the website and the meat is delivered with patented technology involving temperature controlled vacuum container within a maximum time span of 90 minutes.