<p>Online meat delivery platform Licious has invested $1 million in Bengaluru-based pet-food startup Pawfectly Made in a bid to build a “complete ecosystem” of meat products.</p>.<p>Bengaluru-based Pawfectly Made will continue to function as a separate entity with its own production processes and supply chain, as Licious comes in as a strategic partner leveraging its understanding of the fresh animal protein sector to scale the business. Licious refused to disclose the details about its stake in Pawfectly Made.</p>.<p>The Indian pet food market is growing at a CAGR of 18 per cent and expected to reach $642 million by 2022 end, according to market research and consulting firm, TechSci Research. The domestic pet food sector is largely dependent on pre-packaged processed food and this gap was identified by Pawfectly Made. To cash in on this, it introduced customisable fresh pet-food made with high-quality ingredients allowing more options for pet-parents.</p>.<p>“Licious sees a strong synergy with Pawfectly Made when it comes to offering high quality fresh products and elevated meaty experience to customers”, the company said.</p>.<p>The move comes at a time the fresh pet food segment in India is attracting Indian and international players.</p>.<p>Speaking to DH, Nichelle Kamat, VP Category, Licious, said that the company works to promote freshness and quality meat products and for this, it wants to explore synergies to build a complete meat ecosystem in India. “Keeping that in mind, we invested in Pawfectly Made as it offers only fresh food for pets”.</p>
<p>Online meat delivery platform Licious has invested $1 million in Bengaluru-based pet-food startup Pawfectly Made in a bid to build a “complete ecosystem” of meat products.</p>.<p>Bengaluru-based Pawfectly Made will continue to function as a separate entity with its own production processes and supply chain, as Licious comes in as a strategic partner leveraging its understanding of the fresh animal protein sector to scale the business. Licious refused to disclose the details about its stake in Pawfectly Made.</p>.<p>The Indian pet food market is growing at a CAGR of 18 per cent and expected to reach $642 million by 2022 end, according to market research and consulting firm, TechSci Research. The domestic pet food sector is largely dependent on pre-packaged processed food and this gap was identified by Pawfectly Made. To cash in on this, it introduced customisable fresh pet-food made with high-quality ingredients allowing more options for pet-parents.</p>.<p>“Licious sees a strong synergy with Pawfectly Made when it comes to offering high quality fresh products and elevated meaty experience to customers”, the company said.</p>.<p>The move comes at a time the fresh pet food segment in India is attracting Indian and international players.</p>.<p>Speaking to DH, Nichelle Kamat, VP Category, Licious, said that the company works to promote freshness and quality meat products and for this, it wants to explore synergies to build a complete meat ecosystem in India. “Keeping that in mind, we invested in Pawfectly Made as it offers only fresh food for pets”.</p>