Lickicious Secures Rs 19 Cr for Pet Food Expansion
Lickicious, a prominent brand in pet food and nutrition, has successfully obtained Rs 19 crore in growth capital through a combination of equity and institutional debt. The aim is to enhance annual revenue to Rs 100 crore.
Investment Details and Backing
Prath Ventures led this funding round, with additional support from the founders of Atomberg and various senior industry CXOs, who are among the brand’s initial investors.
About Lickicious
Established in 2024 by Shashwat Sahai and Chandan Jha, Lickicious operates under Nuvexo Wellness Pvt Ltd, offering food and nutritional products for cats and dogs. The newly acquired funds will be allocated towards three main areas: capacity, capability, and category expansion.
Manufacturing and Distribution Expansion
The brand is in the process of developing a 60,000 sq ft facility for manufacturing and distribution to boost production capacity, enhance supply reliability, and improve quality control over its products.
Focus on Research and Development
Lickicious will invest in research and development, quality, manufacturing, and supply chain enhancements, along with its branding and commercial activities. The company aims to broaden its portfolio across various products, formats, species, and sales channels, expanding from a digital-first approach to an omnichannel pet nutrition model.
Future Goals
The brand has set a significant target of achieving Rs 100 crore in annual revenue and aspires to become one of India’s top three pet food companies within the next decade. Shashwat Sahai, co-founder of Nuvexo Wellness, stated that the upcoming phase will concentrate on developing superior products, enhancing manufacturing capabilities, and strengthening the brand.
Market Insights
According to Harmanpreet Singh, Managing Partner at Prath Ventures, the pet food market in India is increasingly driven by product quality and trust. He noted that Lickicious is committed to investing in manufacturing, product innovation, and expanding its product categories and channels to facilitate its growth trajectory.
The brand is committed to palatability, transparent nutrition, and quality across its offerings in pet food and nutrition for both dogs and cats.