Indian petfood and nutrition startup Lickicious recently raised USD 1.98 million in growth capital as it prepares to expand its manufacturing capacity, product portfolio and sales channels.
Prath Ventures led the institutional investment, with participation from ISV Capital, Atomberg Technologies founders and senior industry executives, according to co-founder Shashwat Sahai.
The company, operated by Nuvexo Wellness, plans to use the funding across three areas: capacity, capability and category expansion.
It will expand its manufacturing and distribution footprint to 60,000 sqft, aiming to increase capacity and strengthen supply and quality control.
Lickicious will also invest in research and development, quality, supply chain, branding and commercial capabilities.
It plans to expand into more product categories, formats and sales channels as it moves beyond its digital-first model towards an omnichannel pet nutrition business.
The company has set an annual revenue target of USD 10.43 million as its next milestone and aims to become one of India’s top three petfood companies within the next decade.
Founded by Shashwat Sahai and Chandan Jha, Lickicious offers food and nutrition products for dogs and cats.