The majority of Indians think that we live in a vegetarian country. Well, it is partially true, if you reside in North-Western India. But let me tell you an interesting fact. More than 70% of the Indian population is non-vegetarian. Really? Yes! However, buying fresh meat isn’t everybody’s cup of tea, especially in a hectic life. This is the point when Licious entered the market in 2015. It is an e-commerce service that delivers fresh seafood and meat. With a successful business model, Licious valuation has reached Rs.12,300 crore ($1.5 billion).
So, in this write-up, you will get detailed info on Licious valuation, shareholders, and its funding rounds.
As per the latest information available, Licious is valued at $1.5 billion (Rs.12,300 crore). Also, it raised $ 489.9 million through 10 funding rounds. The latest funding of Licious was held on March 15, 2022, from a series F round. Although complete information on shareholders’ breakdown hasn’t been released by the company yet. But as per recent reports from the Licious, some of the significant shareholders are-
|Shareholder’s Name||Percentage of Shares Owned|
|Co-founders (Abhai Hanjura & Vivek Gupta)||21.2%|
|Multiples Private Equity Fund||10.55%|
|Brunei Investment Agency||2.51%|
Fundings so far & Valuation
So far, Licious has raised a whopping amount of $489.9 million through 10 funding rounds. 33 investors are involved in the funding rounds of Licious. And out of them 10 are the lead investors. Licious held its latest funding round on 15th March 2022. It raised a huge sum of money through Series F round. The following table will provide you with information about the other potential investors of Licious.
Let’s look at the latest funding rounds of Licious–
|Venture Capitalist||Funding Amount||Date|
|Amansa Capital||$11.5 billion (Rs. 94,300crores)||March 15, 2022|
|Gruhas Proptech||$91.4 million (Rs.749 crores)||Feb 25, 2022|
|360 ONE Asset||$52 million (Rs.426 crores)||Oct 6, 2021|
|Multiples, Temasek Holdings||$192 million (Rs.1,574 crores)||June 11, 2021|
|Vertex Growth Fund||$30 million (Rs.246 crores)||Dec 16, 2019|
|Nichirin||$25 million (Rs.205 crores)||Dec 10, 2018|
|Bertelsmann, Vertex Ventures||$25 million (Rs.205 crores)||Sep 26, 2018|
|3one4 Capital, Mayfield Fund||$10 million (Rs.82 crores)||March 29, 2017|
|Mayfield Fund||$3.5 million (Rs.28 Crores)||April 21, 2016|
|3one4 Capital||$1 million (Rs.8.2 Crores)||Sep 24, 2015|
Thus, Licious valuation as per the latest report is $1 .5 billion (Rs.12,300 crore).
Is Licious Profitable
Now, the obvious question that you may ask is about the company’s profitability. “Is Licious profitable in spite of raising enormous funds and with a valuation of $1.5 billion?” You will get the answer after looking at the following data–
|Licious Financials||Amount (in crores)|
|Market Valuation||Rs.12,300 crore ($1.5 billion)|
|Revenue Earned||Rs.682.6 crore|
|Profit/Loss||Loss of Rs.855 crore|
Licious was not profitable in FY22 because it dipped in a loss of Rs.855 crore. Even though it earned an appreciable amount of revenue. . But the cash outflow in various expenses was high as well. This means the amount spent on expenditures exceeded the amount of revenue earned. Eventually, it continues to face a significant amount of loss.
Licious earned revenue from the following sources-
|Sale of meat, seafood, eggs, and others||Rs.665.7 crore|
|Revenue from delivery charges||Rs.16.9 crore|
Now look at the following expenses that led to deep losses for the company “Licious.”
|Employee Benefit Expense||Rs.138.3 crore|
|Advertising & Marketing expenses||Rs.64.4 crore|
|Delivery Charges||Rs.134 crore|
|IT & Communication Costs||Rs.52 crore|
|Outsourced Support Cost||Rs.49.7 crore|
|Legal & Professional Fees||Rs.14.8 crore|
|Other Operating and Admin Expenses||Rs.78.8 crore|
It looks like Licious toiled hard in the fiscal year 2022. Well, that’s not the case only with this company. It is planning to expand its business in 20 more cities in India. The co-founders of Licious i.e. Abhay Hanjura and Vivek Gupta realized the growth potential of the meat ecosystem in India. Therefore, despite losses, Licious is firm on its geographical expansion plans. It is also looking forward to developing an online channel and becoming a remarkable D2C meat and seafood brand. This plan is quite enticing for the investors. That’s why it could reach an enormous valuation despite facing losses.