Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Licious.
Love eating non-veg right? Whenever it is Tuesday or Saturday your hearts come out crying for nonveg. To see them once becomes a great desire for many. At times non-veg items may not be present at your homes. But that's no more an issue in today's world.
Looking for clean and fresh fish? Love chicken or red meat? Sometimes these things may not be available in the market. But Licious was always, is and will be there to provide the best products to its consumers. Read the Licious success story below!
Licious - Company Highlights
| Start-up Name | Licious |
|---|---|
| Headquarters | Bangalore |
| Industry | E-commerce and Food & Beverage |
| Founders | Vivek Gupta and Abhay Hanjura |
| Founded | September 2015 |
| Total Funding | $286.5 million (as per July 2021) |
| Revenue | Over 133 million (as per July 2021) |
| Website | licious.com |
Licious - About
Licious - Startup Story
Licious - Founders And Team
Licious - Business Model
Licious - Revenue Model
Licious - Funding And Investors
Licious - Growth
Licious - Competitors
Licious - Future Plans
Licious - FAQ's
Licious - About
Licious is a Bengaluru-based meat and seafood brand. The company serves the best, fresh and clean fish, chicken, meat and eggs online. Licious works on a farm to fork model owning the entire back end supply chain and the cold chain. A separate recipe section is also present in their App. It helps the customers to cook delicious dishes. And also teaches the exotic chef style.
It operates across Bangalore, Hyderabad, Delhi-NCR, Chandigarh, Mumbai, Pune, Chennai, Coimbatore, Pondicherry, Jaipur, Kochi, Vizag, Kolkata, and Vijayawada.
Licious - Startup Story
Abhay Hanjura approached Vivek Gupta (then working with Helion ventures) to explore the space of fresh meat & seafood delivery in India. Although 73% of Indian eats meat and seafood, the industry is highly unorganized. An average Indian household consumes 2000-3000 different branded products, meat being the only exception (well, almost). More than 95% of the fresh meat & seafood industry in India is unorganized & usually conjures up an image of unhygienic local market, filth, stench & an unpleasant buying experience. The duo wanted to change the way Indian experiences meat.
Hence, Licious was created with the thought that India deserves better meat.
Abhay & Vivek were having lunch while discussing the business idea. The chicken they were having was of really bad quality. Vivek remarked that, if we have to build Licious we will have to put life in this dead chicken! That was the moment they realized what they wanted to achieve through Licious- to deliver an unparalleled meaty experience to Indians, introduce global quality standards & benchmarks, set up a hitherto non-existing infrastructure & build processes that India was yet to see.
Licious chose a simple mission statement- we won’t sell what we won’t eat ourselves! It is this simple credo has been the driving force at the company and continues to be so, 5 years later.
Licious - Founders And Team
Vivek Gupta and Abhay Hanjura are the founders of Licious.
- Vivek Gupta is the Co-founder of Licious. He started his career as a Corporate Finance Manager of Tavant Technologies. He was also the Finance Controller of Helion Ventures and the Non Executive Director at MobiCom Commune Pvt. Ltd. He completed his BCom from Punjab University and went on to become a Chartered Accountant (CA).
- Abhay Hanjura is also the Co-founder of Licious. He was the campus ambassador of Infosys. He started his career as a Deputy Manager at India Insure Risk Management Services. He was also the Head of Business Intelligence and Associate Director of Futurisk Insurance Broking Pvt Ltd.
Licious - Business Model
Licious has got a farm to fork business model. The company handles the entire supply chain. Starting from procurement, processing, storage to reach the consumer, in the end, is the responsibility of the company. With over 3500 employees the company claims to deliver the order within 90-120 mins. And processes more than a million orders a month. Transactions are very safe and secured here. The business model here is built to maintain the freshness and the quality of every product. They have both a web platform as well as a mobile app. Consumer loyalty is the main focus of the brand.
Himaya Presthitha
Licious - Revenue Model
Licious has got a customer base of more than 1 Million unique customers till date. The average basket size is of INR 700. In the first year, the company collected revenue of INR 1.47 crores. In FY 2019-20, the revenue collected was INR 180 Crores.
Licious - Funding And Investors
Licious has raised a total amount of USD 286.5 million in funding that includes the recent Series F round of funding in June.
Licious' Funding and investors details are as follows -
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| June 11, 2021 | Series F round | $192 million | Multiples Alternate Asset Management, Brunei Investment Agency, Vertex Ventures |
| December 16, 2019 | Series E | $30 million | Vertex Growth Fund, 3one4 Capital, Bertelsmann India Investments, Nichirei Corp, Vertex Ventures Southeast Asia and India, Sistema Asia Fund |
| December 10, 2018 | Series D | $25 million | Nichirin, 3one4 Capital, Bertelsmann India Investment, Vertex Ventures Southeast Asia and India, UCLA, Sistema Asia Fund |
| September 26, 2018 | Series C | $25 million | Bertelsmann India Investments and Vertex Ventures Southeast Asia & India (part of the Vertex Holdings network of funds). The University of California, Los Angeles (UCLA), also invested in the company along with existing investors Mayfield India, 3one4 Capital, Sistema Asia Fund, InnoVen Capital |
| March 29, 2017 | Series B | $10 million | 3one4 Capital and Mayfield Fund Sistema Asia Fund, Neoplux Technology fund |
| April 21, 2016 | Series A | $3.5 million | Mayfield Fund, 3one4 Capital |
| September 24, 2015 | Seed Round | $1 million | T.V. Mohandas Pai, Manipal Global Education Services, entrepreneur Kanwaljit Singh |
Investors -
TV Mohandas Pai, Vertex Growth Fund, Nichirei Corp, 3one4 Capital, Bertelsmann India Investments, UCLA, Sistema Asia Fund, Mayfield Capital, Sistema Asia Fund, Korea-based Neoplux Technology fund and Innoven Capital are some of the investors in the company. This fresh Series F round of investment further adds Multiples Alternate Asset Management and Brunei Investment Agency.
Licious - Growth
The business saw a 500% growth in the past year, and continues to hold on to the momentum. While all product categories saw growth, the ready-to-cook and ready-to-eat categories contributed significantly to the revenue. Products like the kebab range & chicken spreads emerged as favourites, while new launches like tandoori products are seeing quick traction too.
Currently, Licious claims to have delivered two million orders to unique customers till date. The average basket size per consumer grew by 30% too.
The company has enjoyed a repeat purchase rate of 90% and continues to enjoy the same.
People usually say that most Indians are vegetarians. But this is not true. More than 73% of the population in India eats meat. This is the biggest fact behind Licious' growth. Surveys say that the fresh meat and seafood market is very unorganized. This is why online platforms have emerged to help people all around. Licious promised its consumers hygiene and quality.
Chayanika Goswami
Licious - Competitors
Top competitors of Licious are FreshToHome, ZappFresh, and TenderCuts.
Licious - Future Plans
Licious has significantly increased its footprints over the 2020 & 2021.
Licious used to operate in 14 markets across India, namely Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Jaipur, Coimbatore, Kochi, Puducherry, Vizag, Vijayawada and Kolkata, which has now expanded to include 16 cities.
Over the next year Licious will continue to expand to 10+ Indian cities. A global expansion is also on cards in near future.
Have you tried Licious yet? If yes, then share your experience and feedback on Licious. Feel free to reach us and share your feedback. We would love to hear from you. Do comment us in the comments section below. Happy Reading.
Disha
Licious - FAQ's
What is Licious?
Licious is a meat and seafood company. It serves the best quality meat online.
Who is the founder of Licious?
Vivek Gupta and Abhay Hanjura are the founders of the company Licious.
How much is Licious' Revenue?
In the first year, the company collected revenue of INR 1.47 crores. In FY 2019-20, the revenue collected was INR 180 Crores.
Is Licious an Indian company?
Yes. Licious is headquartered in Bangalore, Karnataka, India.
How many customers does Licious have?
Licious has got a customer base of more than 1 Million unique customers till date. The average basket size is of INR 700.
Who are the competitors of Licious?
Top competitors of Licious are FreshToHome, ZappFresh, and TenderCuts.
What is the business model of Licious?
Licious has got a farm to fork business model. The company handles the entire supply chain. Starting from procurement, processing, storage to reach the consumer, in the end, is the responsibility of the company.
Author: Purbalee Dutta
Source : https://startuptalky.com/licious-success-story/
Date : 2021-07-19T12:56:00.000Z