Vivek Gupta and Abhay Hanjura, co-founders of Licious
| Photo Credit:
prakash
Meat and seafood brand Licious has discontinued its plant-based meat vertical UnCrave as it doubles down on its core business and profitability targets ahead of a planned public listing next year.
Launched in 2022, UnCrave was positioned as a meat alternative for Licious customers, competing with the likes of Beyond Meat and Shaka Harry. The company had been gradually winding down the vertical, which is now fully discontinued, according to people aware of the development.
“The company wants to achieve profitability and is prioritising the expansion of its store network and quick-service offerings,” said a source close to the matter.
The move comes as Licious intensifies its focus on scaling offline presence. While quick commerce players such as Blinkit and Swiggy Instamart remain important revenue channels, the company has been executing an omnichannel strategy, adding more brand-owned stores to strengthen customer reach. Licious currently operates over 15 outlets across Delhi NCR and Bengaluru.
Founded in 2015 by Vivek Gupta and Abhay Hanjura, Licious runs a farm-to-fork model, controlling the entire back-end supply chain from sourcing to delivery. Backed by investors, including Temasek, 3one4 Capital and IIFL, the company has raised more than $550 million to date.
Financially, Licious has been tightening its losses. In FY24, net loss narrowed 44 per cent to ₹293.77 crore from ₹528.5 crore in FY23. Revenue, however, slipped 8.4 per cent to ₹685.05 crore from ₹748 crore in the previous fiscal year.
With the shutdown of UnCrave and an increased focus on offline expansion, Licious is betting that its core fresh meat and seafood offerings will pave the way for profitability and build investor confidence as it gears up for an IPO.
Published on September 9, 2025
