Licious
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | December 2015 |
| Headquarters | Bengaluru, India |
Area served | India |
Key people | Vivek Gupta Abhay Hanjura |
| Services | Online grocer |
Number of employees | 3500 (2022) [1] |
| Parent | Delightful Gourmet Pvt. Ltd |
| Website | www |
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]
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]
Growth
In October 2021 Licious became India's first Direct-to-Consumer (D2C) Unicorn. By third quarter of FY 2022, Licious generated a revenue of ₹ 706 crore.[14] As of March 2023, Licious operates across 20+ cities in India, serving over 1.2 million orders every month. With processing centers located in Bengaluru, Mumbai and Gurugram, the brand serves with over 90% repeat consumption across markets. Over 2021-22, the brand witnessed a 300% revenue growth, and is valued at more than Rs 8,000 crore.
See also
- FreshToHome
- Simply Fresh
- List of online grocers
- List of unicorn startup companies
References
- ^ a b c "Meet Vivek Gupta, badminton enthusiast who built Licious valued at more than Rs 8,000 crore".
- ^ "Licious becomes India's 30th unicorn in 2021; first D2C startup to enter the club".
- ^ a b "Licious turns unicorn, raises $52 million at a valuation of $1 billion".
- ^ a b "Meat startup Licious becomes first Indian D2C unicorn with $52 mn fundraise".
- ^ a b "Licious FY22 loss jumps 2.3 times to ₹856 crore".
- ^ "Unicorn startup Licious raises USD 150 million".
- ^ "Licious forays into plant-based meat business".
- ^ "LICIOUS LAUNCHES 'UNCRAVE' D2C PLANT-BASED MEAT BRAND".
- ^ "Licious' plant-based meat brand UnCrave signs Vir Das as ambassador".
- ^ "We see our role in the (meats) category as Amul's role in the milk category: Santosh Hegde, Licious".
- ^ "Mohandas Pai invests in meat-delivery start-up Licious". The Hindu. 2015-09-22. ISSN 0971-751X. Retrieved 2023-03-24.
- ^ "Winner, Winner, Chicken Dinner: The Incredible Growth Story Of Licious". Forbes India. Retrieved 2023-03-24.
- ^ "Meat And Seafood, Brand: Meat & Greet: How Licious Is Spicing Up Its Story - Forbes India". www.forbesindia.com. Retrieved 2023-03-24.
- ^ 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.