Licious Invests in Pet Food Startup Pawfectly Made

Licious, India's largest direct-to-consumer (D2C) unicorn, has invested $1 million in Pawfectly Made, a Bangaluru-based fresh pet food startup. Pawfectly Made will continue to function with its own production process and supply chain, as Licious joins as a strategic partner and leverage a rich and differentiated understanding of the fresh animal protein sector to lead and expand Pawfectly Made more quickly. 

Nichelle Kamat, VP Category, Licious said, “We are enthused by business ideas that are adjacent and complementary to our vision of building Licious as the Everything-meat brand.” He further said that Pawfectly made is a good strategic fit for the company as both share the vision and synergies across the value chain. The investment will give Licious access to a unique consumer play and a product portfolio that will complement its existing infrastructure. 

India's fresh pet food segment is at a turning point, driving both Indian and international players to introduce a diverse products to their rapidly expanding user base. According to TechSci Research, the Indian pet food market is growing at a CAGR of 18% and is expected to reach $ 642 million by the end of 2022. Despite the industry offering growth opportunities, India's pet food sector has limited options and customers rely primarily on pre-packaged processed foods.