Ready-to-cook startup Fingerlix raises funding from Swiggy parent company
According to the company's RoC filings, Bundl Technologies has invested Rs 31.2 crore in Mumbai-based Fingerlix.
Bengaluru-based food delivery unicorn Swiggy's parent company, Bundl Technologies, has invested in ready-to-cook food startup Fingerlix. According to the company's RoC filings, Bundl Technologies has invested Rs 31.2 crore in Fingerlix.
According to media reports, Vivek Sunder, COO, Swiggy said:
"Fingerlix, under the able leadership of Shripad and Shree, has built a much-loved brand with a unique model of creating products, which we believe will unlock a new category of convenience for customers."
Fingerlix was founded by Shripad Nadkarni, Shree Bharambe, Varun Kahnna and Abhijit Berde in 2016. The Mumbai-based startup claims to serve freshly-cooked and chilled food prepared in its state-of-the-art kitchen. It serves a wide range of products including batters, mixes, parathas, snacks and ready-to-eat accompaniments. The company expanded its product offerings by introducing Upma mix, Biryani Mix and Puran Poli. Nadkarni said:
"Ready-to-eat food is a fast emerging and a significant segment, given the changing lifestyles of urban millennials. The current round will help us address this emerging consumer segment via multiple channels."
The company had raised debt financing of $1.3 million in March 2018 from Alteria Capital. Prior to that, Fingerlix had raised $7 million in Series B funding from Accel Partners and Zephyr Peacock in October 2017. The company had said that it would be using the funds to accelerate its growth strategy and expand to newer geographies.
Recently, Swiggy, in its blog, announced that it will be going beyond just online food delivery to launch Swiggy Stores. Swiggy Stores will be offering its customers the convenience of ordering anything from any store across the city.
The Swiggy Stores already deliver from 3,500 stores in Gurugram. It has also partnered with 200 kiranas, supermarkets, fresh meat outlets, baby store and health supplement stores.
Swiggy was also the first foodtech company in India to have raised the single largest fund. The platform had raised $1 billion in its Series H, led by Naspers and other existing investors.
