Direct to consumer (D2C) meat and seafood brand Licious has recorded a 16% year-on-year increase in its operating scale during the fiscal year concluding in March 2025. The company’s announcement indicates a revenue rise to Rs 795 crore for the last fiscal year. The Bengaluru-based enterprise also reported a 45% reduction in EBITDA losses. To provide context, Licious experienced a 9% decline in revenue during the previous fiscal year (FY24) resulting from an operational reset. However, the most recent fiscal year (FY25) reflects a recovery driven by its omnichannel strategy.
While Startup Superb will review the company’s comprehensive financials after it submits its annual report to the Registrar of Companies, Licious stated it successfully cut EBITDA losses by 45%, bringing them down to Rs 163 crore in FY25 from Rs 296 crore in FY24. The company attributed this advancement to effective cost control initiatives and improved contribution margins across various business segments.
Licious reports serving over 1.2 million monthly customers across 20 cities, with online sales accounting for over 85% of total revenue. Furthermore, the brand accelerated its offline growth, surpassing 50 retail outlets, which includes the My Chicken and More chain acquired in February FY25. Licious aims to expand its retail presence to between 80 and 100 stores by FY26.
In addition, the revenue for the company’s first half of FY26 surged by 42% year-on-year to Rs 530 crore, as indicated in the release. Its rapid delivery service, Licious Flash, now caters to 60% of its online customer base. To date, the firm backed by Temasek has raised over $450 million. Various sources reveal that Mayfield India holds the largest ownership stake in Licious at 14.69%, followed by Vertex Ventures, 3one4 Capital, and others. The brand competes with FreshToHome, Zappfresh, BBDaily, MeatRoot, and Easymeat.