About the Company
Licious was founded in 2015 with the mission to revolutionize the fresh meat and seafood industry in India by providing high-quality, hygienic, and farm-fresh products. Headquartered in Bengaluru, India, Licious has expanded its presence across major Indian cities, delivering fresh meat, seafood, and ready-to-cook products through its direct-to-consumer (D2C) model.
Business Model
Licious operates through the following key business segments:
a) Fresh Meat and Seafood Delivery
- Description: Provides high-quality, fresh, and hygienic meat, poultry, and seafood products directly to consumers.
- Key Clients and Markets: Urban consumers seeking premium meat and seafood. The company primarily serves metro cities.
b) Ready-to-Cook and Ready-to-Eat Products
- Description: Offers a range of marinated meats and ready-to-eat products catering to convenience-seeking consumers.
- Competitive Advantage: Ensures superior quality with farm-to-fork supply chain control and stringent quality checks.
c) Revenue Streams
Licious generates revenue through:
- D2C Online Sales: Selling fresh and processed meat directly via its website and mobile app.
- Subscription Model: Offering memberships for exclusive deals and discounts.
- Retail and B2B Partnerships: Collaborating with restaurants and cloud kitchens for bulk meat supply.
What Problem is the Startup Addressing?
Licious aims to solve the challenges of quality, hygiene, and supply chain inefficiencies in India’s meat and seafood industry. The traditional meat market is unorganized, lacks proper cold storage, and often fails to maintain hygiene standards. Licious addresses these challenges through:
- Farm-to-Fork Supply Chain: Ensuring freshness by controlling sourcing, processing, and delivery.
- Strict Hygiene Standards: Using world-class processing units with FDA-approved technology.
- Technology-Driven Operations: Real-time tracking of orders and AI-driven demand forecasting.
By doing so, Licious guarantees premium quality, convenience, and transparency, redefining the meat and seafood industry in India.
Key Financial Numbers
- Revenue (Latest): ₹700 crore ($85 million) as of FY 2023.
- Profitability: Loss-making but focusing on market expansion and customer acquisition.
- Growth Rate: 80% YoY growth in key metro markets.
- Funding: Raised $192 million from investors like Temasek, 3one4 Capital, and Multiples PE.
- Market Valuation: Over $1 billion (Unicorn status achieved in 2021).
About the Founders
- Abhay Hanjura – Co-Founder
- Education: Biotechnology graduate from Bangalore University.
- Professional Background: Expertise in food processing and entrepreneurship.
- Role in Company: Leads strategic vision and brand positioning.
- Vivek Gupta – Co-Founder
- Education: Chartered Accountant.
- Professional Background: Former finance professional with experience in investment banking and risk management.
- Role in Company: Manages financial planning, fundraising, and expansion strategies.
