Lickicious raises ₹19 crore to expand pet food operations
Bottom line
Version 1 — Brief
Lickicious, the Mumbai-based pet food and nutrition brand operated by Nuvexo Wellness Pvt. Ltd., has raised ₹19 crore in a mix of equity and institutional debt to expand manufacturing, product development, and distribution. The round was led by Prath Ventures, with participation from ISV Capital and backing from Atomberg founders and other industry executives. According to reporting from The Economic Times, Pet Food Processing, and GlobalPETS, the company plans to put the funding toward capacity expansion, hiring, and operating systems; build out a 60,000-square-foot manufacturing and distribution footprint; broaden its dog and cat portfolio; and move from a digital-first model toward a more omnichannel business with wider national reach and new categories, formats, and sales channels. The company has said its next milestone is ₹100 crore in annual revenue, with a longer-term ambition to become one of India’s top three pet food companies over the next decade. Founded in 2023, Lickicious is the digital-first brand of Nuvexo Wellness. (economictimes.indiatimes.com)
Why it matters: For veterinary professionals, the funding is another signal that India’s companion animal nutrition market is maturing around premiumization, supply-chain control, and brand trust. Market data and industry analysis point to continued growth in commercial pet food, especially as more pet parents shift from home-prepared diets to packaged nutrition, and as online purchasing becomes more established. That could mean more new entrants, more formulation claims, and more demand for veterinary guidance on nutrition quality, label transparency, and appropriate diet selection. (agriculture.canada.ca)
What to watch: Watch for whether Lickicious translates this raise into broader retail and clinic-adjacent distribution, new product launches, expanded formats and channels, and stronger quality positioning as competition in India’s pet nutrition market intensifies. (economictimes.indiatimes.com)
Version 2 — Full analysis
Lickicious has secured ₹19 crore in growth capital as it looks to scale from a digital-first pet food startup into a larger omnichannel nutrition business in India. The company, operated by Nuvexo Wellness Pvt. Ltd., said the funding will support manufacturing expansion, product development, and broader category and channel growth. The round was led by Prath Ventures, with participation from ISV Capital, and the company is targeting ₹100 crore in annual revenue as its next milestone. In a LinkedIn post cited by GlobalPETS, Lickicious said its larger ambition is to build one of India’s top three pet food companies over the next decade. (economictimes.indiatimes.com)
The raise lands at a time when India’s pet care market is attracting more capital and strategic attention, particularly in nutrition. Industry and market reports describe a category shaped by rising urban pet parenting, premiumization, and a shift from home-prepared feeding toward commercial diets. Government trade analysis also shows continued growth in India’s pet food imports and retail sales, with dog food still the largest segment and cat food growing quickly. (agriculture.canada.ca)
Lickicious was founded in 2023 and is the digital-first brand of Nuvexo Wellness, offering food and nutrition products for dogs and cats. According to The Economic Times and GlobalPETS, the company plans to use the fresh capital across manufacturing capacity, product development, hiring, operating systems, and category and channel expansion. A planned 60,000-square-foot manufacturing and distribution facility is intended to increase production capacity, improve supply reliability, and give the company greater control over manufacturing and product quality. The company also plans to invest in research and development, quality, supply chain, branding, and commercial hiring, while broadening its national reach and exploring new categories, formats, and sales channels. (economictimes.indiatimes.com)
Founder and investor comments suggest the company is trying to position itself around repeat purchase and trust, not just customer acquisition. Shashwat Sahai told The Economic Times that attractive packaging may drive a first order, but product quality drives repeat business. Prath Ventures managing partner Harmanpreet Singh said the Indian pet food market is shifting toward products and brands that can build consumer trust, and praised Lickicious’ understanding of Indian pet parents and its digital execution. A LinkedIn post tied to the company’s leadership echoed that the next phase includes R&D, quality, supply chain, branding, and new product categories as the brand moves toward omnichannel distribution. (economictimes.indiatimes.com)
That positioning matters because India’s pet nutrition market is getting more crowded, and differentiation is increasingly tied to formulation credibility, quality controls, and channel strategy. External market analyses, while varying in size estimates, broadly agree on the same themes: premium nutrition is gaining share, e-commerce is an established route to market, and veterinary influence remains important as pet parents seek more specialized feeding solutions. In parallel, the veterinary diets segment in India is also projected to grow, reflecting a wider willingness to spend on health-linked nutrition. (agriculture.canada.ca)
The broader funding backdrop also reinforces that pet nutrition is being grouped with adjacent health and technology plays as investors back manufacturing capacity, innovation, and distribution infrastructure. In the same GlobalPETS roundup, funding also went to MAASH, a Belgian biotechnology company scaling a fermentation-derived mycoprotein ingredient for food and pet food applications, and to DocPharma, an Indian healthcare supply chain startup expanding fulfillment infrastructure. While those companies operate in different parts of the value chain, the common thread is investor interest in capacity, logistics, and product innovation—areas that can eventually shape ingredient availability, quality claims, and route-to-market dynamics in pet food.
Why it matters: For veterinary professionals, Lickicious’ raise is less about one startup and more about where the category is headed. As more capital flows into pet food in India, clinics can expect stronger marketing around “better” nutrition, more premium and functional claims, and potentially more requests from pet parents for diet advice outside traditional therapeutic brands. That raises the importance of evidence-based nutrition counseling, scrutiny of ingredient and manufacturing claims, and clear communication about when commercial wellness diets are appropriate versus when a veterinary diet is warranted. The company’s emphasis on manufacturing control, operating systems, and quality is also notable in a market where trust and consistency can shape veterinary recommendations. (economictimes.indiatimes.com)
What to watch: The next markers will be whether Lickicious completes its manufacturing build-out, how quickly it expands beyond digital channels, and whether it pursues clinic, specialty retail, or broader offline distribution. It will also be worth watching whether the company follows through on plans to add new categories, formats, and sales channels as it broadens national reach. More broadly, this deal is another sign that India’s pet nutrition market is moving into a phase where scale, quality assurance, and professional trust may matter as much as brand storytelling. That could create both opportunity and pressure for veterinary teams asked to help pet parents sort marketing from meaningful nutritional value. (economictimes.indiatimes.com)