Licious

Licious

Service providing home delivery of fresh meat and seafood

Founded

2015

Headquarters

Bengaluru (India)

Status

Series G

Company Details

Website

Socials

Email

Phone

1800-4190-786

Licious is India’s leading direct-to-consumer (D2C) platform for fresh meat and seafood delivery. The company’s core offerings include a wide range of fresh meats (chicken, mutton, and more), seafood (fish, prawns, crabs), ready-to-cook marinated products, cold cuts, eggs, and meat-based snacks.

What sets Licious apart is its vertically integrated, farm-to-fork supply chain model. The company controls every step from sourcing directly from local farms and fishermen, to processing, packaging, and home delivery. This end-to-end control ensures stringent quality, hygiene, and freshness, addressing long-standing issues of adulteration and inconsistency in India’s meat market. Licious uses robust cold chain logistics to guarantee freshness, delivering products within 24 hours of processing-never frozen or preserved.

Business Model & Revenue Streams

Its primary revenue streams are :

  • Direct-to-Consumer (D2C) Sales: Licious’s primary revenue comes from direct online sales through its website and mobile app, eliminating intermediaries and capturing higher margins. Customers can order fresh meat, seafood, and ready-to-cook products for home delivery, with the company charging a premium for its quality and service.
  • Subscription Services: Licious offers subscription plans for regular, scheduled deliveries, providing predictable recurring revenue and encouraging customer loyalty.
  • Value-Added Services: The company generates additional revenue from marinated meats, ready-to-cook options, and recipe suggestions-offering convenience and expanding basket size.

Customer Segmentation

  • B2C: Urban, middle- and upper-class consumers seeking premium quality, convenience, and hygiene.

  • B2B: Restaurants, hotels, and catering businesses requiring bulk, reliable supply.

Growth Strategy

Licious’s growth is driven by:

  • Market Expansion: Entering new cities and regions, and opening physical stores to increase reach.

  • Product Diversification: Regularly launching new product categories, such as ready-to-eat and meat-based snacks.

  • Technology & Customer Experience: Investing in a seamless digital platform, real-time order tracking, and personalized recommendations.

  • Strategic Partnerships: Collaborating with local farms, restaurants, and logistics providers to strengthen the supply chain and expand B2B sales.

  • Brand Loyalty: Building a strong, premium brand through quality assurance, customer engagement, and subscription services.

Competitive Differentiation

Licious stands out in the Indian meat and seafood market due to:

  • End-to-End Supply Chain Control: Unlike many competitors, Licious manages sourcing, processing, and delivery, ensuring consistent quality and traceability.

  • Premium Positioning: Focus on hygiene, freshness, and convenience, allowing for premium pricing.

  • Technology Integration: User-friendly app and website, real-time tracking, and personalized offers enhance customer experience.

  • Quality Assurance: Stringent quality checks and cold chain logistics distinguish Licious from traditional butchers and even online competitors like FreshToHome, Zappfresh, and BigBasket.

Conclusion

Licious exemplifies successful disruption in a traditionally unorganized sector through vertical integration, technology, and a sharp focus on quality. Its robust business model, recurring revenue streams, and rapid expansion position it as a market leader with strong growth prospects in India’s $80 billion meat and seafood market.

Key People

Vivek Gupta

Abhay Hanjura

Key Metrics

Total Equity Funding

$490 Million

No. of Funding Rounds

11

Latest Funding Round

$150 Million, Series G

as of March 14, 2022

Post Money Valuation

$1.46 Billion

as of September 21, 2023

Funding Multiple

3.06

as of September 21, 2023

Investors

Mayfield

and 2 more

Employee Count

1745

Similar Companies

Bevzilla

Exit Details

N/A

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
March 14, 2022Series G$150 Million$1.5 Billion$94.8 Million14.2x Temasek, Multiples Alternate Asset Management, 3one4 Capital, Vertex Growth, True North
February 23, 2022Series G$1.2 Million$1.2 Billion$91.7 Million13.3x Gruhas
October 5, 2021Series G$52 Million$921 Million$79.5 Million11.0x Avendus, 360 One, Transaction Square
June 12, 2021Series F$192 Million$547 Million$67 Million5.2x Multiples Alternate Asset Management, Temasek, Vertex Ventures, 3one4 Capital, Vertex Growth, Bertelsmann India Investments, Bertelsmann Investments, QED Innovation Labs
June 6, 2020Series E$56 K$268 Million$29 Million9.4xxto10x
December 16, 2019$30 Million$285 Million$17.4 Million$17.4 Million14.5x Vertex Growth, 3one4 Capital, Bertelsmann India Investments, Vertex Ventures, Sistema Asia Capital, Sistema
December 7, 2018Series D$25 Million$150 Million$9.6 Million13.1x 3one4 Capital, Bertelsmann India Investments, Vertex Ventures, Sistema Asia Capital, Sistema
September 26, 2018Series C$25 Million$72 Million$8 Million6.0x Bertelsmann India Investments, Vertex Ventures, Mayfield, 3one4 Capital, Innoven Capital, Sistema Asia Capital, Sistema
March 7, 2017Series B$10.3 Million$31.4 Million$1.8 Million10.5x Mayfield, 3one4 Capital, Shinhan Venture Investment, Sistema Asia Capital, Sistema
April 21, 2016Series A $1.8 Million$8.2 Million$10 Million$355 K Mayfield
June 10, 2015Seed$1.8 Million$7.5 Million Fireside Ventures

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