Ready-to-cook fresh food solutions brand Fingerlix has raised $3 million in a Series A funding round from Zephyr Peacock. The fresh round of capital will be utilised to intensify its operations in Mumbai, expand into newer geographies of Pune and Bengaluru, and expand its product lines and scale up the team.
Shripad Nadkarni, Founder Director, and Shree Bharambe, Founder and CEO, Fingerlix, said,
“At Fingerlix, our aim is to offer fresh food, with absolutely no preservatives, to customers. With this latest round of fund infusion, we aim to introduce more offerings and foray into newer cities to spread Fingerlix to a larger customer base. We look forward to working closely with Zephyr Peacock in the areas of product development, market expansion, widening of our distribution channels, and strengthening our regional presence in high-demand geographies.”
Launched in 2016, Fingerlix is the brainchild of Shripad Nadkarni, Shrikrishna Bharambe, Varun Khanna, and Abhijit Berde. The startup claims to serve freshly cooked and chilled food prepared in a state-of-the-art hygienic kitchen. Fingerlix allows customers to customise the dish as per their tastes.
An alumnus of IIM Bangalore, Shrikrishna has earlier been associated with Johnson & Johnson (J&J) and MarketGate Consulting. In his previous stint at J&J, he led the women's health business, and had been in the food space at MarketGate Consulting. Chef Abhijit has been in the food and beverage industry for the past 16 years, and has diverse experience with deluxe hotels, restaurants, and airlines. Also an alumnus of IIM Bangalore, Shripad has been associated with companies such as Johnson & Johnson and Coca-Cola India & South-West Asia in key leadership positions.
After having successfully made its presence felt in a few parts of Mumbai, Fingerlix had recently branched out into Pune, and had also launched a new delicacy, PuranPoli, to further diversify its product portfolio. The brand plans to spread out to the top 10 cities in India over the next 18 months. Fingerlix serves a wide range of products like batters, mixes, curries, dals, parathas, and ‘fully-ready’ accompaniments.
Pankaj Raina, Vice President, Zephyr Peacock, said, “With rapid changes in consumers’ lifestyle and food choices, the convenience food category is set for massive growth. Within this segment, the market for ready-to-cook traditional Indian meals remains largely untapped. We believe that Maverix Platforms Private Limited (Fingerlix) is well-positioned to become the market leader in this emerging segment with its unique product offerings and robust growth strategies.”
Based out of New York and Bengaluru, Zephyr Peacock India provides equity financing to small to medium-sized companies. It provides support to the portfolio company’s management team to help position the business for long-term growth. Among the portfolio companies of Zephyr are the likes of 20Cube, Pebs Pennar, Swarna Pragati, Varthana, MPOWER, Trimax, Miles, Metro, Aizant, e2E, and NetAmbit.