D2C meat and seafood brand Licious has invested $1 million in the pet food startup Pawfectly Made.
With this investment, Licious joins in as a strategic partner, making this its first strategic investment. Additionally, post this investment from Licious, Pawfectly Made will continue to function as a separate entity with its own production processes and supply chain.
Pawfectly Made | Pet meals
Started by Arpita Ganesh, Pawfectly Made offers fresh, healthy, convenient and customized pet meals. The pet meals offered by Pawfectly Made are made using human-grade ingredients, farm-fresh produce without any preservatives or additives in extremely hygienic kitchens.
Arpita stated that Pawfectly Made saw perfect synergy with Licious when it came to their expertise on supply chain and technology that could help scale Pawfectly Made faster.
Arpita added,
“Their commitment to superior quality and freshness, deep understanding of the Indian market and obsession with delivering great value to the customers were key factors that convinced us of the efficacy of this investment and the overall partnership. We are also aligned on Pawfectly Made capturing a much larger market share of pet food in Bengaluru for now and also developing new product ranges, to bring much more healthier products for pets across India.”
Arpita had earlier founded the lingerie brand Buttercups, that later was acquired by Amazon.
In February 2022, Licious raised fresh capital from Gruhas Proptech LLP (an investment firm backed by Zerodha’s Nithin and Nikhil Kamath), Haresh Chawla, partner at private equity firm True North and boAT Co-Founder Aman Gupta.
Nichelle Kamat, VP Category of Licious, said,
“Pawfectly Made is a good strategic fit for us given the shared vision and synergies across the value chain. The investment will give us access to a unique consumer play and a product portfolio that will complement our existing infrastructure.”
Over the years, the pet food segment in India has garnered a lot of traction. According to TechSci Research, the Indian pet food market is expected to reach $642 million by 2022 end, growing at a CAGR of 18%.
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