Licious

What Licious does

Licious (legally Delightful Gourmet Private Limited) is India's first direct-to-consumer unicorn in the fresh meat and seafood category, operating an omnichannel platform across mobile app, website (licious.in), and 55+ physical retail stores in Bengaluru and Mumbai. Founded in 2015 and headquartered in Bengaluru, the company sells fresh chicken, mutton, fish and seafood, eggs, cold cuts, and an expanding range of ready-to-cook and frozen convenience foods including momos, kebabs, curries and spreads. It serves urban Indian households seeking hygienically handled, premium protein products delivered quickly to their doorsteps.

The company's underlying technology stack combines a vertically integrated cold-chain supply chain (maintaining 0–4°C from farm sourcing to last-mile delivery, with 150+ quality checks and FSSC 22000 certification) with a dark-store network of 130 hubs that enable sub-30 to 60-minute delivery to roughly 55–60% of its 1.2 million-plus customer base. An AI-driven personalization engine feeds the Meatopia loyalty program (225,000 active members, ~50–60% of monthly revenue) and supports dynamic recommendations and inventory management. Distribution extends to quick-commerce platforms (Blinkit, Zepto, Swiggy Instamart), a toll-free phone ordering line, and owned/licious.in e-commerce.

Licious's business model is fundamentally transactional retail with subscription-like retention mechanics. Revenue is generated through weight-based unit pricing on fresh meat and seafood, flat Rs 39 delivery fees, plus a high-margin convenience-foods category. Online channels generate over 80% of FY26 revenue of Rs 1,166 crore (47% YoY growth), while offline revenue has surged from Rs 26 crore in FY25 to Rs 177 crore in FY26 following the October 2024 acquisition of My Chicken and More (23 outlets). The company targets Rs 1,800 crore in FY27 and is preparing for an IPO at a $2 billion valuation, despite a still-elevated FY25 net loss of Rs 218.3 crore and FY26 EBITDA burn of Rs 187 crore.

Name

Licious

Legal name

Delightful Gourmet Private Limited

Website

https://licious.in

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Licious is an Indian D2C omnichannel fresh meat and seafood brand selling chicken, mutton, fish and convenience foods via mobile app, website, 130 dark stores and 55+ retail outlets across 18 cities, serving urban consumers with cold-chain 30-minute delivery.

Ownership category

akta.pro rank

Product category

Online Fresh Meat and Seafood Retail

NAICS

Meat Retailers (445240), Refrigerated Warehousing and Storage (493120), Packaged Frozen Food Merchant Wholesalers (42442)

SIC

Wholesale-Groceries, General Line (5141), Retail-Convenience Stores (5412)

akta.pro primary industry

Online Cold-Chain & Frozen Food Delivery (AFAIAMAL)

akta.pro secondary industries

Cold‑Chain Same‑Day (Refrigerated/Frozen) (TLAAADAF), Frozen Snacks & Appetizers (CRADADAD), Cold Chain Fulfillment & Pick-Pack (E-grocery/D2C) (TLALABAL)

Keywords

• Fresh meat delivery
• Online seafood retail
• Cold chain logistics
• Ready to cook meals
• Direct to consumer food

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Online Meat & Seafood Sales: Primary D2C revenue through mobile app and website generating over 80% of total revenue, with online sales growing 28% to Rs 1,000 crore in FY26
2. Offline Retail Sales: Offline revenue from physical retail stores surged significantly to Rs 177 crore in FY26 from Rs 26 crore in FY25, driven by expansion through My Chicken and More acquisition
3. Subscription & Loyalty (Meatopia): Loyalty program Meatopia with 225,000 active members contributing approximately 50% of monthly revenue, driving repeat purchases and customer retention
4. Quick Commerce & Third-Party Platforms: Strategic partnerships with quick-commerce platforms driving approximately 25% year-over-year growth in secondary channels

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Licious operates an omnichannel direct-to-consumer platform selling fresh meat (chicken, mutton) and seafood (fish, prawns, crabs), along with ready-to-cook, frozen, and cold-cut value-added products, through its mobile app, website (licious.in), and 55+ physical retail stores. The company owns its vertically integrated cold-chain supply chain that maintains 0–4°C from sourcing to doorstep with 150+ quality checks, supported by 130+ dark stores enabling sub-60-minute Flash 30-minute delivery across 18 Indian cities.

Product overview

Licious operates an omnichannel D2C meat and seafood platform combining a mobile app/website (generating over 80% of revenue), physical retail stores (55+ after acquiring My Chicken and More), and a dark store network (130+ as of early 2026). The core platform enables ordering of fresh chicken, mutton, fish & seafood, cold cuts, eggs, and value-added products. The product portfolio spans fresh meats, frozen convenience foods (momos, kebabs, curries, spreads), and ready-to-cook options. Supporting services include the Meatopia loyalty program (50-60% of monthly revenue), Flash 30-minute delivery, Licious Cash+ rewards currency, and quality lab reports. The company maintains supply chain ownership from farm sourcing to last-mile delivery with cold-chain standards at 0-4°C and over 150 quality checks.

Differentiator

Problem solved

Functional benefit

Brands

• Meatopia (Loyalty Program): Loyalty program contributing approximately 58-60% of monthly revenues with 225,000 active members as of mid-2024.
• Flash (30-minute delivery)
• Infiniti (Loyalty Program)

Products and services

• Fresh Chicken Fresh whole chickens, curry cuts, boneless portions, drumsticks, breast, and mini bites sourced from farms and maintained at 0–4°C from plant to doorstep, available across 18 Indian cities via the Licious app and website.
• Fresh Mutton Fresh goat and lamb cuts including curry cuts, biryani cuts, boneless portions, mince/keema, and specialty cuts like liver, sourced and cold-chain delivered at 0–4°C to urban Indian households.
• Fish & Seafood Fresh fish and seafood including Rohu, Catla, Seer, King Fish, Mackerel, Prawns, Crabs, and seasonal catches, offered as whole fish, steaks, fillets, and cleaned/deveined options under cold-chain delivery.
• Cold Cuts Processed meat products including cold cuts and cured meats prepared under controlled conditions with synthetic casings, for urban consumers seeking ready-to-eat deli-style options.
• Ready to Cook Pre-marinated and pre-prepared meat products ready for cooking including Butter Chicken, Tandoori Chicken, Creamy Afghani Chicken, Oriental Basil Chicken, and Honey Chilli Garlic Wings, targeting urban consumers seeking restaurant-style convenience at home.
• Licious Momos Frozen momos in multiple variants including loaded chicken momos and prawn momos, priced between Rs 149 and Rs 395, targeting convenience-focused consumers seeking higher-frequency, ready-to-cook options.
• Kebab & Starters Ready-to-cook kebabs and appetizers including Afghani chicken shashlik, smoked mutton seekh kebabs, chicken shashlik, and Hyderabadi meat shashlik, designed for home-style preparation.
• Spreads Ready-to-eat meat spreads including Chunky Shawarma Chicken Spread, Chunky Butter Chicken Spread, and Chunky Continental Egg Spread, for consumers seeking ready-to-eat convenience.
• Curries and Masalas Ready-to-cook curries, gravies, and meat masalas for meal preparation, sold through the Licious platform for time-pressed consumers.
• Eggs Fresh eggs available in classic and brown varieties, sold in packs of 6, offered as a complementary staple alongside meat and seafood purchases.

Quantifiable outcome

• 47% YoY revenue growth to Rs 1,166 crore in FY26
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability2 records

Feature4 records

Partnerships

One partnership is on record.

• My Chicken and MorecoreStrategic or Co-development PartnerBengaluru-based offline retailer acquired in October 2024 in a cash and equity deal, adding 23 outlets and expanding Licious's physical retail presence. My Chicken and More generates Rs 110 crore in annual revenue with 1.6-1.8 million orders yearly.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• FreshToHome: India-based D2C online meat and seafood brand with cold-chain delivery. Most directly comparable competitor to Licious, also operating across multiple cities with similar omnichannel ambitions and premium positioning.
• ZappFresh: India-based D2C fresh meat delivery startup offering similar products (chicken, mutton, seafood) via app and website. Comparable in target customer (urban premium buyers), cold-chain model, and online ordering experience.
• Meatigo: India-based online meat and seafood brand delivering premium halal-certified products via cold-chain. Direct competitor in the same D2C fresh-meat category with similar product assortment and urban Indian customer base.
• TenderCuts: India-based fresh meat and seafood brand with both online delivery and physical retail stores in Chennai and Bengaluru. Comparable omnichannel D2C strategy, product range, and emphasis on cold-chain quality.

Emerging players

• Country Delight: India-based D2C fresh essentials brand delivering dairy and related products via subscription and on-demand model. Comparable in D2C fresh-food positioning, subscription mechanics, and emphasis on quality/sourcing transparency.

Broad incumbents

• BigBasket: India's largest online grocery platform (Tata-owned) offering fresh meat and seafood alongside broader grocery assortment. Comparable as a broad online grocery incumbent that competes in the same end-customer occasion, but with a much wider assortment and network.
• Blinkit (Zomato): India's leading quick-commerce platform with growing fresh meat and seafood assortment and 10–15 minute delivery. Comparable as a horizontal player now encroaching on Licious's core cold-chain delivery proposition in meat.
• Zepto: India quick-commerce platform expanding into fresh meat and seafood categories with rapid delivery. Comparable as a horizontal quick-commerce player that Licious already partners with but also competes against in the meat delivery occasion.
• Swiggy Instamart: Swiggy's quick-commerce vertical carrying fresh meat and seafood. Comparable as an established quick-commerce incumbent that Licious both partners with for secondary distribution and competes with for end-customer occasions.

Others

• Ninjacart: India's largest B2B fresh produce and agri-supply chain platform. Comparable as an adjacent fresh-food supply chain operator in India, but focused on B2B rather than the B2C delivery occasion that Licious serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/LiciousFoods
• Facebookfacebook.com/LiciousFoods
• LinkedInlinkedin.com/company/licious
• Instagraminstagram.com/licious

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Licious