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Licious acquires My Chicken and More

EntrackrEntrackr · 1y ago
Licious acquires My Chicken and More
Medial

D2C meat and seafood brand Licious has acquired Bengaluru-based offline retailer My Chicken and More for an undisclosed amount. The acquisition marks Licious’ strategy to build an omnichannel presence complimenting its digital commerce that reaches 4 million households currently. With My Chicken and More’s 23 stores, Licious will expand its physical retail footprint to 26 points of sale. My Chicken and More is known for its in-store experience. Between 2021 and 2023, the brand claims to have expanded from 10 to 23 outlets, generating revenues of Rs. 110 crore in 2023. My Chicken and More claims to processes 1.6 to 1.8 million orders annually, with some stores with an average monthly footfall of 10,000 to 12,000 customers. Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious sells meat, seafood and ready-to-cook items across 25 cities. The sale of these products formed the majority source of revenue for Licious in FY23. The company turned unicorn following a $52 million round led by IIFL AMC’s Late Stage Tech Fund in October 2021. During the same year, it also scooped up $192 million in Series F round. In total, it has raised $490 million to date. Despite back-to-back funding during FY23, Licious’s operating income remained flat with mere 9.6% growth to Rs 747.7 crore from Rs 682.5 crore in FY22. It also saw a modest increase of 3.1% in its losses to Rs 500 crore in FY23 from Rs 485 crore in the previous fiscal year. Its flagship loyalty program Infiniti has amassed 2 lakh weekly active subscribers, contributing to 58% of the monthly business.

Licious reports Rs 795 Cr revenue in FY25; cuts EBITDA losses by 45%

EntrackrEntrackr · 5d ago
Licious reports Rs 795 Cr revenue in FY25; cuts EBITDA losses by 45%
Medial

Licious reports Rs 795 Cr revenue in FY25; cuts EBITDA losses by 45% Kunal Manchanada 18 Oct 2025 20:34 IST Direct to consumer (D2C) meat and seafood brand Licious recorded a 16% year-on-year growth in its operating scale during the fiscal year ending March 2025. According to the company’s press release, its revenue grew to Rs 795 crore in the last fiscal year. The Bengaluru-based firm also claimed to narrow EBITDA losses by 45%. For context, Licious saw a 9% revenue decline in the last fiscal year (FY24) due to an operational reset, but the last fiscal year (FY25) indicated a recovery led by its omnichannel approach. While Entrackr will analyze the company’s detailed financials once it files its annual statement with the RoC, Licious said it reduced EBITDA losses by 45% to Rs 163 crore in FY25 from Rs 296 crore in FY24. The company credited this improvement to cost control measures and better contribution margins across business lines. Licious claims to serve over 1.2 million monthly customers across 20 cities, with online sales contributing more than 85% of overall revenue. Offline expansion also gathered pace, with the brand crossing 50 retail outlets, including the My Chicken and More chain it acquired in February FY25. Licious plans to scale its retail footprint to 80–100 stores by FY26. Meanwhile, the company’s H1 FY26 revenue rose 42% year-on-year to Rs 530 crore, according to the release. Its quick delivery service, Licious Flash, now serves 60% of its online customers. To date, the Temasek-backed firm has raised over $450 million. According to TheKredible, Mayfield India holds the largest stake in Licious at 14.69%, followed by Vertex Ventures, 3one4 Capital, and others. It competes with FreshToHome, Zappfresh, BBDaily, MeatRoot, and Easymeat.

Licious reports Rs 685 Cr revenue in FY24; cuts losses by 44%

EntrackrEntrackr · 1y ago
Licious reports Rs 685 Cr revenue in FY24; cuts losses by 44%
Medial

D2C meat and seafood brand Licious has experienced sluggish growth over the past two fiscal years, with revenue hovering around Rs 700 crore. However, the firm has successfully reduced its losses by 44% in the last fiscal year (FY24). According to the company’s press release, Licious’s revenue declined by 9%, from Rs 746 crore in FY23 to Rs 685 crore in FY24. This modest decline was attributed to the closure of distribution channels like Dunzo and Swiggy Meatsore, as well as a winding down of exposure to modern trade and local stores. Licious reports serving 1.2 million customers each month through its app, which now drives 85% of its total business. The company’s flagship program, Infinity, accounts for 58% of its overall revenue. Despite the slight decrease in revenue, Licious implemented cost control measures that helped cut losses by 44%, bringing them down to Rs 294 crore in FY24 from Rs 524 crore in FY23. The company also anticipates achieving positive EBITDA in the current fiscal year. By the end of FY24, Licious laid off nearly 3% of its workforce citing “operational reset to sharpen the growth focus. The move impacted 80 employees. In an effort to enhance customer experience, Licious is piloting 30-minute deliveries in Gurugram as it shifts to a full-stack D2C model. Additionally, on Tuesday, the firm expanded its physical retail presence by acquiring Bengaluru-based offline retailer My Chicken and More, increasing its retail points of sale to 26. To date, the Bengaluru-based company has raised over $450 million. According to TheKredible, Mayfield India is the largest stakeholder in Licious with 14.69%, followed by Vertex Ventures, 3one4 Capital, Temasek, and others. Licious is the largest player in the D2C meat and seafood space, competing with companies like FreshToHome, Zapfresh, BBDaily, MeatRoot, and Easymeat. In October 2023, quick commerce platform Zepto entered the meat delivery market with its in-house brand, Relish. This vertical reportedly achieved an annual recurring revenue (ARR) of Rs 150 crore in just six months, with a projected revenue run rate of Rs 1,000 crore by March 2026.

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