Licious Invests $1mn in PAWFECTLY MADE fresh pet food startup

Licious, direct-to-consumer fresh meat and seafood retailer, has made an investment of $1 million in Pawfectly Made, a Bengaluru-based fresh pet food startup.

According to a senior Licious executive, the company that offers personalized pet food would continue to operate as an independent organization with its own production methods and supply chain.

“Complementary and adjacent businesses are what we’re searching for.” “We’ll look at purchasing firms in the ready-to-cook, ready-to-eat category, as well as offering front-end or back-end possibilities,” Nichelle Kamat, vice-president.

Pawfectly Made, founded by Arpita Ganesh in 2020, provides handcrafted and healthful pet-friendly food.

The Indian fresh pet food market is at a crossroads, requiring both domestic and foreign businesses to deliver their diverse product choices to a rapidly growing customer base.

According to TechSci Research, the Indian pet food industry is predicted to reach $642 million by the end of 2022, rising at a compound annual rate of 18%. Despite the potential for expansion, India’s pet food industry has limited options, forcing customers to rely heavily on pre-packaged processed food.

Licious is India’s first D2C unicorn, founded in 2015 by Abhay Hanjura and Vivek Gupta. According to the firm, it provides over 2 million orders every month to customers in 23 Indian cities.

Licious secured $150 million in March from a group of investors led by Singapore’s Amansa Capital. Axis Growth Avenues AIF-I and Kotak PE are also among the investors in the round.