Bangalore-based Delightful Gourmet Pvt Ltd, which runs Licious, an online meat delivery service, has raised $3 Mn Series A investment from Mayfield India Management. The funds will be utilised for further expansion of the services to other cities including Delhi-NCR over the next six months. Also, there are plans to team up with experienced chefs from five start hotels to add innovation to the products offered.
The fresh meat market in India is currently highly unorganised and is stated to be valued at INR 1,80,000 Cr. Abhay Hanjura and Vivek Gupta stepped into this niche in August 2015 with an aim to provide orders which are high on optimum flavor and freshness, securely packed and delivered in 90 minutes. With a team size of 160, the firm now claims to have 15,000 orders a month at an average order value of INR 600. The team further targets 1,00,000 orders a month by October and to reach 11 cities by next 3 years.
“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,” said Abhay Hanjura, co-founder of Licious.
Earlier, in September 2015, the firm received a seed funding of $1 Mn from angel investors such as Mohandas Pai, Kanwaljeet Singh and Kaushal Agarwal. It has partnered with Grofers and Big Basket to deliver its products. Also, the site offers a range of exclusively crafted chicken and lamb recipes apart from fresh meat.
Other startups in the similar space include Zappresh, OnlyMeat, Brown Apron, EasyMeat, and more.
The development was first reported by Techcircle.