For FY19, Licious posted sales of Rs 110 crore, processing 2.25 lakh orders a month at a median order price of Rs 600Online clean meat and seafood logo Licious opened its first 300 square ft meat and seafood enjoy center on the high-footfall Galleria Market in Gurugram on Thursday. Designed to change the standard Indian experience of purchasing meat and seafood, the center is ready to take clients thru the complete farm-to-fork adventure of meat and seafood with the aid of skilled meat consultants, who additionally intricate on the employer’s accountable and sustainable sourcing techniques and solution all queries on traceability and great of merchandise.
“Repeated requests from clients to the touch and experience our products, and multiple questions they posed to us approximately how we source our meat, and so forth, brought about us to begin our offline adventure. We need to be an omnichannel logo and plan to open 7-eight more such centers over the next 12 months,” Vivek Gupta, co-founder of Licious, advised BusinessLine. He stated the center is also absolutely knife-unfastened, providing the simplest pre-packed merchandise introduced immediately from the manufacturing plant to ensure no compromise on first-rate and hygiene. The center’s ‘Endless Aisle’ characteristic lets customers vicinity orders on a virtual kiosk for products not to be had on the center, to be able to be introduced at their doorsteps in 90 mins.
“The regular meat shopping for experience in India is all about crowded markets, dingy lanes, and the frantic search for first-rate products. Our experience center is nothing like a traditional meat or seafood keep and is completely compliant with the worldwide meals safety and hygiene norms,” stated Abhay Hanjura, co-founder, Licious. Over the remaining 4 years, Licious, an exceedingly fragmented, unorganized enterprise worth $40 billion, claims to have served over 6 lakh clients across Bengaluru, Hyderabad, Delhi-NCR, Chandigarh, Mumbai, and Pune thru online and app-primarily based buy.
The start-up owns the entire back-stop supply chain powered via stringent bloodless chain manage to maintain the fine and freshness of every product from the time of procurement, processing, and storage to the time it reaches the end-consumer.
It has brought several valued-delivered merchandises to its fresh meat and seafood portfolio, including spreads, marinades, and pickles, and released ready-to-fry meat and seafood pakoras on Eid.
For FY19, Licious published a revenue of ₹one hundred ten crores, processing 2.25 lakh orders a month at an average order fee of ₹six hundred. It raised two rounds of $25 million every in Series C and Series D investment in September and December 2018, respectively, with a complete $ sixty-four million raised thus far. It competes with fresh home, Nandu’s Chicken, EasyMeat, and ZappFresh, amongst others.
Global personal fairness fund Advent International has completed fund-raising for its 9th international PE fund, GPE IX, reaching the difficult cap of $17.5 billion. The fund exceeded its $16-billion goal after six months within the market. Advent’s previous global fund, GPE VIII, closed on $13 billion in 2016, the corporation said in a statement. GPE IX will put money into the buyout, company carve-out, public-to-non-public, and boom fairness transactions, primarily in Europe and North America and selectively in Asia and Latin America. Across all of its price range, Advent has invested $ forty-four billion in greater than 345 personal equity transactions in forty-one international locations.