Jul 5, 2022
The Vegetarian Capitalists
India is a meat-loving country, with more than 70% of the population eating meat (spanning religions & cultures). India still has the lowest per capita meat consumption in the world. Traditionally, meat buying has been aligned with a neighbourhood butcher that either operates on the roadside or out of a wet market. It is not a pleasant experience owing to the overall hygiene levels & assurance of freshness.
This has prompted a host of startups over the past few years to focus on the quality & consistency of the product by improving the overall buying experience. Licious is one such startup that recently turned a unicorn. Their offering is built on securing the supply chain that includes standardising quality, increased product options, better packaging & delivery.
Owing to the taboos around meat in India, Licious had trouble raising funds when it launched half a decade back. Abhay Hanjura, the co-founder has nicely summarised a certain tribe of VCs as Vegetarian Capitalists.
He says, “The VCs in India are vegetarian capitalists. Their personal biases, generally, cloud their deal-making ability. Most of the VCs that we met in our early years were giving us ideas on how we should do paneer (cottage cheese) instead,” (source: https://lnkd.in/d-_KMUDB)
What are your thoughts? Join the discussion
Until next time!
~ Sajid
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Sajid is a Strategy Consultant and founder at Le Monturé Strategy, who works at the intersection of human behaviour, business design and innovation strategy. He blogs at sknotes and tweets @sajidkhetani
