Licious

Last updated
Licious
Company type Private
Industry Retail
Founded2015;9 years ago (2015) [1]
FoundersVivek Gupta
Abhay Hanjura
Headquarters Bangalore, India
Area served
India
Services Online grocer
RevenueIncrease2.svg₹747 crore (US$90 million) (FY23) [2]
Increase Negative.svg₹−500 crore (US$−60 million) (FY23) [2]
Number of employees
6,000 (2024) [3]
Parent Delightful Gourmet Pvt. Ltd
Website www.licious.in

Licious is an e-commerce service that sells seafood and meat, in addition to ready-to-cook and ready-to-eat products. [4] It is operated by Delightful Gourmet Private Limited and headquartered in Bangalore. It was launched in 2015 by Abhay Hanjura and Vivek Gupta. [5]

Contents

History

Vivek Gupta and his friend, Abhay Hanjura started Licious in 2015. [3] It is operated by Delightful Gourmet Pvt. Ltd. [6] [5] [7] In 2021, Licious became India's 29th unicorn of the year and India's first direct-to-consumer (D2C) unicorn. [3] [8] [9] In October 2022, Licious launched direct-to-consumer, plant-based meat brand, UnCrave. [10] [11] [12]

Funding

In September 2015, Licious received $1 million in seed investment from former Infosys Board member and CFO T. V. Mohandas Pai. [13] 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.[ citation needed ]

In 2018, Licious raised $25 million investment from Bertelsmann India Investments and Vertex Ventures Southeast Asia & India, 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 Nichirei Group. Existing Investors 3one4 Capital, Bertelsmann India Investment, Vertex Ventures Southeast Asia and India, UCLA and Sistema Asia Fund. [14]

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

In 2021, Licious received $192 million from Teamsek and multiple private equity. In the same year they received $52 million funding from IIFL AMC, Avendus Future Leaders Fund and became India's first direct-to-customer Unicorn. [15]

Operations

As of March 2023, Licious operates across 20+ cities in India, [16] serving over 1.2 million orders every month. It has processing centers located in Bangalore, Mumbai and Gurugram. [17]

See also

Related Research Articles

Sequoia Capital is an American venture capital firm headquartered in Menlo Park, California which specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. As of 2022, the firm had approximately US$85 billion in assets under management.

Zoomcar is an Indian carsharing platform, headquartered in Bangalore. Founded in 2013 by David Back and Greg Moran, it currently operates in more than 34 cities.

Vertex Venture Holdings, also known as Vertex Holdings, is an investment holding company with a group of venture capital funds worldwide. A subsidiary of Temasek Holdings, the company focuses on venture capital investment opportunities in the information technology and healthcare markets through its global family of six direct investment venture funds. Vertex provides anchor funding and operational support to these funds. Each fund has its own General Partners and investment teams, focusing on different regional markets. Its six funds are based across Southeast Asia and India, United States of America, China and Israel.

<span class="mw-page-title-main">Treebo Hotels</span> Indian Hotel Chain

Treebo Hotels is an Indian hotel chain that operates on a franchising model. As of October 2023, Treebo Hotel owns over 1000 hotels in 120 cities throughout India.

<span class="mw-page-title-main">Unicorn bubble</span>

A unicorn bubble is a theoretical economic bubble that would occur when unicorn startup companies are overvalued by venture capitalists or investors. This can either occur during the private phase of these unicorn companies, or in an initial public offering. A unicorn company is a startup company valued at, or above, $1 billion US dollars.

<span class="mw-page-title-main">Pratilipi</span> Indian self-publishing portal

Pratilipi is an Indian online self-publishing and audiobook portal headquartered in Bangalore. Founded in 2014, the company allows users to publish and read original works such as stories, poetry, essays, and articles in twelve languages: Hindi, Urdu, English, Gujarati, Bengali, Marathi, Malayalam, Tamil, Kannada, Telugu, Punjabi and Odia. The company also launched two other storytelling platforms - Pratilipi Comics & Pratilipi FM, and has also forayed into different formats such as web series, motion series, podcasts, and films.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as a consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021. However, Gandhi left Nium in October 2023, around the time Nium's Chief Product Officer also left the company and Nium announced a layoff of over 10% of its global staff.

Byju's is an Indian multinational educational technology company, headquartered in Bengaluru. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. As of January 2024, Byju's made a valuation ask of $200 million, a sharp fall given its peak valuation of $22 billion in 2022. As of April 2023, the company claims to have over 150 million registered students.

CleverTap is a California-based SaaS company that offers customer lifecycle management and mobile marketing services. The company was established in May 2013, and is headquartered in San Francisco, California. CleverTap's platform is built on a database designed to optimize both speed and scalability, enhancing user engagement for its clients.

Livspace, is a home interior and renovation company headquartered in Singapore. It provides interior design and renovation services in Singapore and India. The company was founded in 2014 by Anuj Srivastava and Ramakant Sharma and has raised funding of $450 million.

Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie.

Pine Labs is an Indian company that provides point of sales systems and payment systems, founded in 1998. The company has a valuation of over US$5 billion.

Info Edge is an Indian technology holding company which owns, operates and invests in internet-led businesses. The company's offerings include the flagship employment website Naukri.com, matrimonial website Jeevansathi.com, real estate classifieds platform 99Acres.com, and educational portal Shiksha.com, among others. As of 2018, more than 70 percent of the company's revenue came from Naukri.com.

Pepperfry Limited, formerly known as Pepperfry, is an Indian online marketplace for furniture and home décor. The company was founded in July 2011 by Ambareesh Murty and Ashish Shah, and is headquartered in Mumbai. As of 2023, Pepperfry has 43 company-owned studios and 142 studios operating under its franchise model.

MyGlamm is an online makeup brand headquartered in Mumbai, Maharashtra. Founded in October 2017, MyGlamm is part of the Good Glamm Group— South Asia's largest content-to-commerce beauty and personal care conglomerate. In 2021, Its parent company became India's first unicorn startup in the DTC beauty and personal brand industry, after securing $150 million in funding and a valuation of $1.2 billion.

<span class="mw-page-title-main">CIIE.CO</span> Indian startup accelerator

CIIE.CO is an Indian startup accelerator and incubator that supports early-stage startups located at IIM Ahmedabad in Ahmedabad, India. It was founded in 2002 to promote innovation and entrepreneurship in India. It is a Center of excellence set up at Indian Institute of Management Ahmedabad with support from the Government of India's Department of Science and Technology and the Government of Gujarat.

<span class="mw-page-title-main">BigBasket</span> Indian online grocery delivery company

BigBasket is an Indian online grocer headquartered in Bangalore, India, and currently owned by Tata Digital. It was the first online grocer in India, set up in 2011. It is a registered company with the name Supermarket Grocery Supplies Pvt. Ltd.

The Good Glamm Group is a content-to-commerce company that produces and sells personal care and cosmetic products, with operations in India, Dubai, Singapore, and the USA. The company was recognized in New York-based Beauty Matter's Future50 list of global beauty companies, and in 2021 achieved unicorn status after a $150 million Series D funding round at a valuation of $1.2 billion. The group announced plans to launch an IPO on 30 August 2022.

<span class="mw-page-title-main">Altair Capital</span> American venture capital company

AltaIR Capital, is an American venture capital company that was founded by Igor Ryabenkiy, a seasoned serial angel investor.

References

  1. ↑ Bora, Garima (4 October 2021). "How Licious was founded after a messy episode of soan papdi packaging". The Economic Times. Retrieved 11 July 2023.
  2. 1 2 Manchanada, Kunal (29 September 2023). "Licious gets a reality check: Rs 500 Cr loss, flat revenue in FY23". Entrackr. Retrieved 27 December 2023.
  3. 1 2 3 "Meet Vivek Gupta, badminton enthusiast who built Licious valued at more than Rs 8,000 crore".
  4. ↑ "Licious becomes India's 30th unicorn in 2021; first D2C startup to enter the club". 5 October 2021.
  5. 1 2 "Licious turns unicorn, raises $51 million at a valuation of $1 billion". 5 October 2021.
  6. ↑ "Licious FY22 loss jumps 2.3 times to ₹856 crore". 15 November 2022.
  7. ↑ Ashrafi, Kunal Manchanda & Md Salman (2022-11-22). "Licious' revenue grows 64% in FY22 while losses past Rs 855 Cr". Entrackr. Retrieved 2023-04-30.
  8. ↑ "Meat startup Licious becomes first Indian D2C unicorn with $52 mn fundraise". 5 October 2021.
  9. ↑ "Unicorn startup Licious raises USD 150 million".
  10. ↑ "Licious forays into plant-based meat business". 10 October 2022.
  11. ↑ "LICIOUS LAUNCHES 'UNCRAVE' D2C PLANT-BASED MEAT BRAND". 11 October 2022.
  12. ↑ "Licious' plant-based meat brand UnCrave signs Vir Das as ambassador". 8 February 2023.
  13. ↑ "Mohandas Pai invests in meat-delivery start-up Licious". The Hindu. 2015-09-22. ISSN   0971-751X . Retrieved 2023-04-30.
  14. ↑ "Winner, Winner, Chicken Dinner: The Incredible Growth Story Of Licious". Forbes India. Retrieved 2023-03-24.
  15. ↑ "Meat And Seafood, Brand: Meat & Greet: How Licious Is Spicing Up Its Story - Forbes India". www.forbesindia.com. Retrieved 2023-03-24.
  16. ↑ Bureau, Indiaretailing (2021-01-25). "Licious announces entry to 7 strategic Tier I & II domestic markets". India Retailing. Retrieved 2023-04-30.{{cite web}}: |last= has generic name (help)
  17. ↑ S, Shanthi (2021-02-10). "From 100 Orders Per Day In 2015 To Over 20,000 In 2021: How Licious Cracked The Supply Chain". Inc42 Media. Retrieved 2023-04-30.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.