Licious

Licious is an Indian instant delivery service, that operates on a farm-to-fork model.[2] It was founded in December 2015 and is based out of Bengaluru.[3] It supplies high-quality fresh seafood and meat, apart from ready-to-cook and ready-to-eat products. Licious is India's first direct-to-customer unicorn.[1] Licious is India's largest technology (tech)-first full-stacked Direct-to-consumer (D2C) unicorn.[4]

Licious
TypePrivate
IndustryRetail
FoundedDecember 2015 (2015-12)
HeadquartersBengaluru, India
Area served
India
Key people
Vivek Gupta
Abhay Hanjura
ServicesOnline grocer
Number of employees
3500 (2022) [1]
ParentDelightful Gourmet Pvt. Ltd
Websitewww.licious.in

History

Vivek Gupta and his friend, Abhay Hanjura started Licious in 2015.[1] It is operated by Delightful Gourmet Pvt. Ltd.[5] It operates out of three processing centres in Bengaluru, Mumbai, and Gurugram and is spread in 14 Indian cities.[3] By third quarter of FY 2022, Licious had generated a revenue of ₹ 706 crore, including ₹ 16.9 crore as delivery charges.[5] In 2021, Licious became India's 29th unicorn.[4][6] In October 2022, Licious launched direct-to-consumer, plant-based meat brand, UnCrave.[7][8][9] In March 2023, the company launched a new ad campaign called the ‘All You Can Eat Meat Buffet.’ featuring The Great Khali.[10][11]

Funding

In 2016, Licious received $3 million investment from Mayfield capital and 3one4 capital. Next year Licious raised $10 million investment from existing and new ones including Mayfield India, 3one4 Capital, Sistema Asia Fund and Neoplux Technology Fund.

In 2018, Licious raised $25 million investment from Bertelsmann India Investments and Vertex Ventures Southeast Asia & India, Los Angeles ( UCLA ), also invested In the company, along with Mayfield India, 3one4 Capital, Sistema Asla Fund and InnoVen Capital. In the same year they received $25 million funding from Japan's Nichirel Group . Existing Investors 3one4 Capital, Bertelsmann India Investment, Vertex Ventures Southeast Asia and India, UCLA and Sistema Asia Fund.[12]

In 2019 Licious raised $30 million funding from Singapore based Vertex Growth Fund. Existing investors including 3one4 Capital, Bertelsmann India Investments, Nichirel Corp, Vertex Ventures Southeast Asia, and Sistema Asla Fund.

In 2021, Licious received $192 million from Teamsek and multiple private equity. In the same year they received $52 million funding from IIFL AMC Avender, Future Leaders Fund and became India's first direct-to-customer Unicorn.[13]

See also

References
  1. "Meet Vivek Gupta, badminton enthusiast who built Licious valued at more than Rs 8,000 crore".
  2. "Licious becomes India's 30th unicorn in 2021; first D2C startup to enter the club".
  3. "Licious turns unicorn, raises $52 million at a valuation of $1 billion".
  4. "Meat startup Licious becomes first Indian D2C unicorn with $52 mn fundraise".
  5. "Licious FY22 loss jumps 2.3 times to ₹856 crore".
  6. "Unicorn startup Licious raises USD 150 million".
  7. "Licious forays into plant-based meat business".
  8. "LICIOUS LAUNCHES 'UNCRAVE' D2C PLANT-BASED MEAT BRAND".
  9. "Licious' plant-based meat brand UnCrave signs Vir Das as ambassador".
  10. "We see our role in the (meats) category as Amul's role in the milk category: Santosh Hegde, Licious".
  11. "Mohandas Pai invests in meat-delivery start-up Licious". The Hindu. 2015-09-22. ISSN 0971-751X. Retrieved 2023-03-24.
  12. "Winner, Winner, Chicken Dinner: The Incredible Growth Story Of Licious". Forbes India. Retrieved 2023-03-24.
  13. "Meat And Seafood, Brand: Meat & Greet: How Licious Is Spicing Up Its Story - Forbes India". www.forbesindia.com. Retrieved 2023-03-24.
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