Biography of Vivek Gupta: Co-Founder of Licious Unicorn Company -8000 Crore
Biography of Vivek Gupta:
Vivek Gupta’s career took an unconventional turn when he
co-founded Licious, a company specializing in fresh meat and seafood. With a
background in corporate finance and a solid foundation as a Chartered
Accountant, Gupta left behind a promising career in finance to venture into the
world of startups. His journey began with a B.Com degree from Panjab
University, followed by his qualification as a Chartered Accountant at just 21.
His professional trajectory included roles as a Corporate Finance Manager at
Tavant Technologies, Finance Controller at Helion Ventures, and a Non-Executive
Director at MobiCom Commune Pvt. Ltd.
Early Career
Corporate Finance Manager at Tavant Technologies
Vivek’s career began at Tavant Technologies, where he worked
as a Corporate Finance Manager from May 2004 to October 2006. Tavant
Technologies is known for its innovative software solutions and services. In
this role, Vivek managed corporate finance functions, contributing to the
company’s success in delivering cutting-edge technology solutions across
various domains.
Finance Controller at Helion Ventures
Before his ventures in the food and technology sectors,
Vivek worked as a Finance Controller at Helion Ventures from October 2006 to
June 2015. Helion Ventures is a prominent venture capital firm, and Vivek
managed all aspects of its business finance. His responsibilities included
handling complex investment structures, mergers and acquisitions, and
restructuring efforts, which played a crucial role in the firm’s operations and
its portfolio companies.
Biography of Vivek Gupta: Co-Founder of Licious Unicorn Company -8000 Crore-Entrepreneur/Investor/Age/Net worth/Succss story of Vivek Gupta & Licious
MobiCom America: Enhancing B2B Commerce
Before diving into the meat industry, Vivek Gupta
contributed to MobiCom America LLC as a Non-Executive Director from July 2015
to May 2021. MobiCom, based in Singapore with centers in the US and India,
specializes in B2B mobile and web commerce solutions. The company provides
tailored apps for various communities, enabling them to interact, network, and
conduct transactions more effectively. By leveraging advanced algorithms and
proprietary solutions, MobiCom enhances the commerce experience for its clients,
aiming to deliver secure, interactive, and personalized services to global
communities.
Meeting of Minds
The seeds of Licious were sown when Vivek Gupta crossed
paths with his friend and future business partner, Abhay Hanjura. Gupta, who
had moved to Bengaluru from Chandigarh, and Hanjura, who had relocated from
Jammu to study biotechnology, met during their respective professional
pursuits. Their shared passion for creating something impactful led them to the
idea of starting Licious, a venture that would revolutionize the meat and
seafood market in India.
The Birth of Licious
In July 2015, Gupta and Hanjura took the plunge and founded
Licious. The initial year saw modest beginnings, with the company's turnover reaching
Rs 3 crore. Despite this modest start, the founders were encouraged by the
positive response and continued to scale their operations. They envisioned a
brand that would provide high-quality meat and seafood, catering to the growing
demand for convenience and freshness.
Overcoming Initial Hurdles
Leaving behind their stable careers was not without its
challenges. Gupta admitted feeling apprehensive about the decision, but it was
this fear that drove him to work tirelessly towards success. Similarly,
Hanjura's parents were initially skeptical about the venture. However, their
shared passion for meat and their friendship, which was often bonded over lamb
chops, kept them motivated.
A Focus on Quality
One of Licious's core principles was delivering high-quality
meat products. Gupta and Hanjura understood that to stand out in a competitive
market, they needed to ensure their offerings were superior. Their research led
them to prioritize antibiotic-free chicken and implement rigorous quality
control measures. This commitment to quality became a cornerstone of their
business model.
Building the Brand
With a small team of five, Gupta and Hanjura embarked on
innovative marketing strategies to promote Licious. They organized events and
tasting sessions at residential societies to build word-of-mouth buzz. Their
approach paid off as customers quickly recognized Licious's superior quality
compared to competitors, leading to increased interest and investment
opportunities.
Rapid Expansion
The success of their marketing efforts and the high quality
of their products attracted investors eager to be part of Licious's growth
story. Over the years, the company experienced remarkable growth, including a
300% increase in revenue. By the third quarter of FY22, Licious had generated
revenue of INR 706 crore, with additional earnings from delivery charges and
investments.
Securing Funding
Licious's impressive growth trajectory continued with a
Series F2 funding round, raising $150 million and achieving a $1 billion
valuation. The company’s ability to attract significant investment highlighted
its potential and solidified its position as a leader in the direct-to-customer
meat and seafood market.
A Customer-Centric Approach
Licious's success is deeply rooted in its customer-centric
approach. The company operates its own cold chain to ensure the freshness of
products from procurement to delivery. This commitment to maintaining high
standards of quality and hygiene has helped Licious address common customer
pain points in the unorganized meat and seafood market.
Expanding Reach
By focusing on key markets, Licious has expanded its
presence to over 20 cities across India. The company has served more than 5
million packs of high-quality meat products and boasts over 90% repeat business
monthly. Its ability to cater to diverse customer needs has played a crucial
role in its rapid expansion.
Achieving Unicorn Status
In a significant milestone, Licious became India's first
direct-to-customer unicorn. The company's innovative approach to meat and
seafood retailing, combined with its impressive growth and funding achievements,
has positioned it as a trailblazer in the industry. Licious’s valuation has
soared to over Rs 8,000 crore, reflecting its substantial impact on the market.
Drawing from Experience
Gupta’s previous experience at Helion Ventures, where he
spent nearly a decade working with portfolio companies, has been invaluable in
his role at Licious. His expertise in finance and operations has enabled him to
oversee various aspects of the company, including marketing, technology, and
expansion, ensuring that Licious remains focused on sustainable growth.
Recognition and Achievements
Gupta's contributions to the startup ecosystem have not gone
unnoticed. He has been recognized with several prestigious awards, including
being named among the Top 100 Indian Future CFOs in 2013, Business World’s 40
Most Disruptive Entrepreneurs in 2018, and GQ’s 50 Most Influential Indians in
the same year. His achievements underscore his significant impact on India’s
startup landscape.
A Passion for Badminton
Outside of his professional achievements, Gupta is also a
passionate badminton player. He enjoys competitive games every morning and has
won several corporate tournaments. This enthusiasm for sports reflects his
dedication to maintaining a balanced lifestyle amidst his entrepreneurial
endeavors.
A Journey of Transformation
Gupta's journey from a finance professional to a successful
entrepreneur is a testament to his resilience and vision. By co-founding
Licious and steering it to success, Gupta has not only transformed the meat and
seafood industry in India but has also set a benchmark for innovation and
customer satisfaction.
A Customer-First Philosophy
At Licious, Gupta emphasizes a customer-first philosophy,
ensuring that the company’s growth aligns with its commitment to providing
exceptional quality and service. This focus on understanding and meeting
customer needs has been a driving force behind Licious’s continued success and
expansion.
Future Plans and Aspirations
Looking ahead, Gupta and Hanjura are committed to driving
Licious’s growth while maintaining a strong focus on profitability. The company
aims to enhance its offerings and expand its reach, ensuring that it remains a
leader in the direct-to-customer meat and seafood market.
Legacy and Impact
Vivek Gupta’s journey with Licious is a story of
entrepreneurial spirit, innovation, and dedication. From overcoming initial
challenges to achieving significant milestones, Gupta’s leadership has played a
crucial role in shaping Licious into a leading brand in India’s meat and
seafood industry. His story continues to inspire aspiring entrepreneurs and
highlights the potential for success in the startup ecosystem.
A timeline of Vivek Gupta's career and Licious's journey:
May 2004 - October 2006: Corporate Finance Manager at Tavant
Technologies.
October 2006 - June 2015: Finance Controller at Helion
Ventures.
July 2015 - May 2021: Non-Executive Director at MobiCom
America LLC.
July 2015: Co-founded Licious with Abhay Hanjura.
2016: Licious reached a turnover of Rs 3 crore in its first
year.
FY22 Q3: Licious generated revenue of INR 706 crore.
2022: Licious raised $150 million in Series F2 funding,
achieving a $1 billion valuation.
2024: Licious became India's first direct-to-customer
unicorn with a valuation over Rs 8,000 crore.
