Lickicious Raises INR 19 Crore to Build India Pet Food Manufacturing Operations, Targeting Top Three Market Position
Executive Summary: Lickicious, a digital-first pet food brand operated by Nuvexo Wellness Private Limited, has raised INR 19 crore (approximately USD 2.3 million) in growth capital led by Prath Ventures, with backing from the founders of Atomberg and senior industry executives. The company plans to build a 60,000-square-foot manufacturing and distribution facility in India, expand from digital-first to omnichannel, and target INR 100 crore in annual revenue. Founded in 2024, Lickicious aims to become one of India’s top three pet food companies within a decade.
Key Facts
- Company
- Lickicious (Nuvexo Wellness Private Limited)
- Country
- India
- Industry
- Pet food manufacturing, D2C pet nutrition
- Category
- Investment and funding, Series A
- Event
- Lickicious raises INR 19 crore growth capital
- Date
- 2026-09-01
- Location
- India
- Source
- Entrepreneur India, ET Retail
What Happened
Lickicious, the digital-first pet food brand operated by Nuvexo Wellness Private Limited, has raised INR 19 crore in growth capital through a combination of equity and institutional debt. Prath Ventures is the lead institutional investor. The founders of Atomberg and several senior industry executives also backed the round. The funding was announced in early September 2026.
The company plans to deploy the capital across three areas: capacity, capability, and category expansion. Lickicious is developing a 60,000-square-foot manufacturing and distribution facility to increase production capacity, improve supply reliability, and gain greater control over product quality. The facility will support the company’s transition from a digital-first pet food business to a multi-category, omnichannel pet nutrition company.
Shashwat Sahai, co-founder of Nuvexo Wellness, said: “A good-looking bag can win the first order. Only good food wins the next ten. Our next phase is not only about selling more, but 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.”
Background
Lickicious was founded in 2024 by Shashwat Sahai and Chandan Jha. The company develops food and nutrition products for dogs and cats in India, operating primarily through digital channels. The INR 100 crore (approximately USD 12 million) annual revenue target is positioned as a milestone toward becoming one of India’s top three pet food companies within a decade.
India’s pet food market is in an early growth stage compared to China, the United States, and Europe. The market is transitioning from being primarily distribution-led to becoming increasingly product- and trust-led, according to Harmanpreet Singh, Managing Partner at Prath Ventures: “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.”
Industry Context
The pet market india segment is expanding as urbanization and rising household incomes drive pet ownership. India’s pet care market, while smaller than China’s or the United States’, is growing rapidly from a low base. The cross-border pet e-commerce dynamics are also relevant: international pet food brands compete with domestic startups for share in a market where local manufacturing is still maturing.
The funding round reflects a pattern seen in other Asian pet food markets: digital-first startups raise institutional capital, then invest in physical manufacturing to reduce dependence on third-party contract manufacturers. This mirrors the trajectory of Chinese pet food companies like Wanpy and Gibao, which built domestic manufacturing before expanding internationally. For a pet startup in India, the decision to build a 60,000-square-foot facility represents a significant capital commitment to vertical integration.
Market and Business Impact
The Lickicious funding round is modest by global pet industry standards but significant in the Indian context. The INR 19 crore (USD 2.3 million) raise funds a manufacturing facility, R&D, quality systems, and brand-building. The pet franchise model is also relevant: as Indian pet retail organizes, companies like JUSTDOGS operate approximately 40 stores, creating distribution channels for domestic pet food brands.
For international pet food manufacturers and suppliers, India represents an emerging market where local brands are building domestic production capacity rather than relying on imports. The pet business ideas that succeed in India — digital-first distribution, affordable pricing, locally formulated products — may differ from strategies that work in mature markets.
Companies and Brands Involved
Lickicious is the brand operated by Nuvexo Wellness Private Limited. Prath Ventures is the lead institutional investor. The founders of Atomberg, a consumer appliance company, are among the early backers. The company was founded in 2024 by Shashwat Sahai and Chandan Jha.
Data and Evidence
- Funding amount: INR 19 crore (approximately USD 2.3 million) in equity and institutional debt
- Lead investor: Prath Ventures
- Manufacturing facility: 60,000 square feet (planned)
- Revenue target: INR 100 crore (approximately USD 12 million) annually
- Long-term goal: top three pet food companies in India within a decade
- Founded: 2024 by Shashwat Sahai and Chandan Jha
What This Means for the Pet Industry
Lickicious’s funding round signals that India’s pet food market is reaching the stage where domestic brands can attract institutional capital to build manufacturing infrastructure. The shift from digital-first to omnichannel, with physical production capability, is the same transition that Chinese pet food startups made before scaling. For the broader pet industry, the Indian market represents incremental growth opportunity that may eventually matter for international suppliers and manufacturers — but the infrastructure investment cycle is just beginning. The key question is whether domestic brands can compete with imported premium products on quality while maintaining price advantages from local manufacturing.
Key Takeaways
- Lickicious raised INR 19 crore (USD 2.3 million) in growth capital led by Prath Ventures to build a 60,000-square-foot manufacturing facility in India.
- The company targets INR 100 crore (USD 12 million) in annual revenue and aims to become one of India’s top three pet food companies within a decade.
- Founded in 2024, Lickicious is transitioning from digital-first D2C to omnichannel with its own manufacturing, R&D, and quality systems.
- India’s pet food market is shifting from distribution-led to product- and trust-led, according to lead investor Prath Ventures.
- The funding reflects a broader pattern in Asian pet food markets where startups invest in domestic manufacturing capacity to reduce reliance on contract production.
Sources
- Primary — Entrepreneur India, “Prath Ventures Leads Institutional Round for Pet Food Brand Lickicious,” September 2026, https://www.entrepreneurindia.com/blog/en/news/prath-ventures-leads-institutional-round-for-pet-food-brand-lickicious.60991
- Secondary — ET Retail, https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/lickicious-raises-rs-19-crore-targets-rs-100-crore-annual-revenue/133868080
- Secondary — BW Disrupt, https://www.bwdisrupt.com/article/lickicious-secures-rs-19-cr-in-growth-capital-to-expand-pet-food-operations-622485
