Licious

Last updated
Licious
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$94 million) (FY23) [2]
Increase Negative.svg₹−500 crore (US$−63 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

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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 $52 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.
  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.
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