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Business News/ Companies / Start-ups/  Licious makes strategic investment in pet food startup Pawfectly Made
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Licious makes strategic investment in pet food startup Pawfectly Made

In October 2021, Licious had raised $52 million from IIFL AMC’s Private Equity Fund at a billion-dollar valuation, making it one of the over 40 startups to enter the unicorn club in 2021

Pawfectly Made was launched by Arpita Ganesh in 2020. Premium
Pawfectly Made was launched by Arpita Ganesh in 2020. 

NEW DELHI: Delightful Gourmet Pvt Ltd, operator of meat brand Licious, on Wednesday said it has invested $1 million, or around 7.6 crore, in fresh pet food startup Pawfectly Made.

This is the first strategic investment by Licious in a startup.

The company sees a strong synergy with Pawfectly Made when it comes to offering high-quality fresh products and elevated meaty experience to customers, as per a statement.

Pawfectly Made was launched by Arpita Ganesh in 2020. She had earlier founded the lingerie brand Buttercap which was later acquired by Amazon. 

Post this deal, Pawfectly will function as a separate entity with its production processes and supply chain, the statement 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," said Nichelle Kamat, VP Category, Licious.

In March, Licious raised $150 million ( 1,146 crore) in an extended Series F round of funding led by Singapore-based Amansa Capital. In October 2021, Licious had raised $52 million from IIFL AMC’s Private Equity Fund at a billion-dollar valuation, making it one of the over 40 startups to enter the unicorn club in 2021.

Before this, Licious raised $192 million in July 2021 at a valuation of around $650 million. That round was led by Temasek Holdings and Multiples Alternate Asset Management.

Its competitor Fresh-to-Home was also in talks to raise capital at a unicorn valuation, VCCircle reported in November.

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ABOUT THE AUTHOR
Anuj Suvarna
Anuj Suvarna covers startups and venture capital. He writes about funding and acquisitions in VCCircle. When not writing about the Indian startup ecosystem, he likes to read non-fiction books, spend time with his pets (dad to 2 dogs and a cat) and go on treks. Previously, Anuj ran a restaurant consulting business and a bar in his hometown of Udupi.
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Published: 27 Apr 2022, 01:37 PM IST
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