Licious is an online service which deals in the selling of a variety of seafood and meat products. It is a known name in terms of the quality of the meat products and offer ready-to-go products to eat or to be cooked and consumed.
Licious – Complementing Products
They offer fresh and raw products with complementing marinades to make the meal utterly delicious. It launched its first plant based meat protein brand in October 2022, known as UnCrave. A new advertisement campaign was launched, by Licious in March 2023; which showcases the ‘The Great Khali’ with the campaign slogan ‘All You Can Eat Meat Buffet’.
Licious Startup Overview
The company was originally based in Bengaluru established by Vivek Gupta and Abhay Hanjura in 2015. It has its three major centers in India apart from Bengaluru, Mumbai and Guru gram, Haryana. It has outlets in 14 other cities of India. The operation of the company Licious comes, under the banner of Delightful Gourmet Private Limited. It is one of the first e-commerce brands that is a direct-to-consumer (D2C) venture.
Licious Funding Snapshot
Licious started in the year 2015 with a funding of $1 million as a part of seed investment from the CFO and a board member of Infosys. The company’s investors kept growing from the year 2016 and received an investment of $3 Million from 3 one 4 Capital and Mayfair Capital. The other prime investors are the Sistema Asia Fund, Mayfield India, Neoplux Technology Fund, UCLA, InnoVen Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia; India, and Nichrei Corp. Funding of $30 million was raised, in 2019 from a Singapore-based
Vertex Growth Fund. The most remarkable growth in the revenue was seen in the financial year of 2021 to 2022 which accounts for almost 300%. In 2021, $192 Million was received by multiple private equity firms and Temasek. While, a funding of $52 million from IIFLMAC and Avendus Future Leader Funds. However, the current closing financial year of 2023 was a letdown for the company by not delivering its estimated revenue.
Licious – Commitment to Quality:
The company holds a record of serving 1 million orders every month with a repetition in consumption across the markets accounting to be 90%. Licious serves the need for hygiene, quality, and freshness, and offers convenience to the consumer all at once. It is like providing fresh from the farm to your doorstep efficiently, be it red meat, poultry or seafood. It maintains its all-time standard of the product starting from the phase of procurement, storage to delivering it fresh with every order. Licious has been able to understand and tap the need of the meat consuming clients in India. It has been able to live upto the consumer expectations as shown by repeat orders.
