Lickicious, a pet food brand operated by Nuvexo Wellness Private Limited, raised ₹19 crore in growth capital to expand its manufacturing capacity, operational capabilities, and product categories as it scales toward ₹100 crore in annual revenue and aims to become one of India's top three pet food companies within the next decade.
- Lickicious raised ₹19 crore (US$2 million) in growth capital through a mix of equity and institutional debt, led by Prath Ventures
- The funding will support expansion toward ₹100 crore (US$10.5 million) in annual revenue and long-term goal of becoming a top three pet food company in India
- The company is building a 60,000-square-foot manufacturing and distribution facility to increase production capacity and strengthen quality control
- Capital will be directed toward manufacturing capacity, operational capabilities, and category expansion across multiple formats and sales channels
- Lickicious plans to transition from a digital-first brand to a multi-category, omnichannel pet nutrition company with investments in R&D, quality assurance, and brand development
Lickicious, the pet food brand operated by Nuvexo Wellness Private Limited, has raised ₹19 crore (US$2 million) in growth capital through a mix of equity and institutional debt. The company said the funding will support its plan to scale toward ₹100 crore (US$10.5 million) in annual revenue.
Prath Ventures is the company's lead institutional investor. The founders of Atomberg and several senior industry executives are also among Lickicious' early backers.
Expanding capacity, capabilities and categories
The company said it will direct the capital toward three areas: manufacturing capacity, operational capabilities and category expansion. Lickicious, which has operated primarily as a digital-first brand, is aiming to grow into a multi-category, omnichannel pet nutrition company.
As part of that plan, Lickicious is developing a 60,000-square-foot manufacturing and distribution facility intended to increase production capacity and strengthen quality control across its supply chain.
The company also plans to invest in research and development, quality assurance, manufacturing, supply chain, brand and commercial functions, while expanding its product portfolio across formats, species and sales channels.
Lickicious said the ₹100 crore (US$10.5 million) revenue target is a milestone toward its longer-term goal of becoming one of India's top three pet food companies within the next decade.
"A good-looking bag can win the first order," said Shashwat Sahai, co-founder of Nuvexo Wellness Private Limited. "Only good food wins the next 10. Our next phase is not only about selling more, but also about building the capabilities required to become a much larger pet food company: better products, stronger manufacturing, a stronger brand and the people who can build all three.
"We are investing in capacity, capability and category together," Sahai continued. "We want greater control over how our products are developed and made, while expanding the number of categories and channels in which Lickicious can compete. ₹100 crore in annual revenue is an important milestone for us, but the larger ambition is to build one of India's top three pet food companies over the next decade."
Harmanpreet Singh, managing partner at Prath Ventures, said India's pet food market is moving from being primarily distribution-led to becoming increasingly product- and trust-led.
"Lickicious has demonstrated a strong understanding of Indian pet parents, a differentiated product proposition and disciplined execution across digital channels," said Singh.
"The company is now investing in the capabilities needed for its next stage of growth: from manufacturing and product development to category and channel expansion," Singh added. "We believe this can create a strong foundation as Lickicious scales towards becoming one of India's leading pet food companies."
Lickicious was founded in 2024 by Sahai and Chandan Jha.
