Lickicious is a pet food and nutrition company. Lickicious has raised ₹19 crore in growth funding to bolster its operations and market footprint. The capital infusion has been made possible mainly through equity finance and an institutional debt structure. The financing round aligns with the company’s plans to reach an annual revenue target of ₹100 crore. Lickicious is a company working in the pet segment whose products cater to the nutritional requirements of domestic pet animals in India.

Company establishment and investment details

The venture capital firm Prath Ventures led the initial growth investment round. The round also involved the participation of Prath Ventures’ early backers, among which were the founders of the home appliance company Atomberg. 

Apart from these principal investors, there were a handful of senior industry corporate executive officers (CXOs) contributing to the brand’s capital raise. The varied composition of equity and debt gives Lickicious financial strength for future expansion and operations.

Lickicious was established in 2024 by a group of entrepreneurs, Shashwat Sahai and Chandan Jha, and is legally registered under its parent company, Nuvexo Wellness Pvt Ltd. The company specializes in the manufacture and sale of food and nutrition items specifically engineered to meet the needs of dogs and cats. 

Since inception, its product development has been concentrated on palatability, the clear and simple nutrition of its feline and canine foods, as well as quality assurance for the entire pet food division.

Capital deployment and operational goals

The amount raised for the new funds is ₹19 crore, to be used in three core areas, as per the company: capacity, capability, and category expansion. With respect to capacity improvement, the company is pursuing a plan to build a manufacturing and distribution plant of 60,000 sq ft. 

The rationale behind constructing this massive piece of physical infrastructure is to boost total production, promote greater reliability of the supply chain, and leverage greater control of product quality across the end-to-end value chain.

Regarding capability development, Lickícias will focus significant resources on research and development, self-assurance building, manufacturing procedures, supply chain collaboration, branding, and commercial activities within functional domain areas. 

The capital will provide the firm with the ability to enhance its operations internally and its product through the standard. Concerning category extension, the brand’s objectives are to venture into several product formats, into multiple species-specific categories, and through multiple channels of sale. 

Although Lickicious was founded as a digital-first venture, it plans to expand into becoming a full-featured omnichannel pet nutrition company. The strategic shift will enable the company to target pet parents in offline retail locations as well as on online distribution platforms.

After this successful round, Lickicious has set itself clear operational milestones and goals. Achieving a revenue target of ₹100 crore becomes an immediate milestone for the organization. This startup hopes to establish itself as one of the top 3 brands in the pet food sector in the coming ten years.

Stakeholders’ commentaries give hints about the future direction of this brand. Shashwat Sahai, the co-founder of Nuvexo Wellness, added that Lickicious is now on track to develop its products further, strengthen its manufacturing unit, and build a strong brand identity.

Harmanpreet Singh, Managing Partner at Prath Ventures, shared that the pet food market in India has started shifting towards quality food and customers’ trust. He underscored the strategic investments made into local manufacturing, product development, category expansion, and sales channel diversification by Lickicious to successfully enable its next growth stage.

Conclusion

Lickicious’s ₹19 crore growth capital round is another significant signpost on its growth trajectory in the dynamic Indian pet care market. The brand is building up its basic business base through a combination of equity and institutional debt managed by Prath Ventures.

Embarking on an investment journey toward a 60,000 sq ft manufacturing project, augmenting its existing product line, pushing forward research and development, and an omnichannel transition, Nuvexo Wellness Pvt Ltd is well on its way to becoming a market leader in the Indian animal nutrition industry with annual sales of ₹100 crores.