Mumbai-based ready-to-cook (RTC) food brand Fingerlix has secured Rs 45 crore in its third round of funding from Accel Partners.
Existing investor Zephyr Peacock also participated in this round. Earlier, Zephyr Peacock had infused Rs 20 crore in a series-A round of funding in the foodtech startup in April this year.
The startup will use the latest proceeds to expand to Bengaluru, Hyderabad, and Chennai and increase its presence in the NCR market, reported ET.
The firm is also looking to invest some of the capital raised in newer products including recipe-based offerings in several center-of-plate categories such as snacking where it sees a huge opportunity.
“We have one kitchen in Mumbai, which covers the supply for Mumbai and Pune, another is coming up in Delhi and we will also have one in the south. Our sense is that the three facilities will cover the volume for all our cities going forward,” said Shree Bharambe, CEO of Fingerlix.
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Launched in 2016, Fingerlix is the brainchild of Shripad Nadkarni, Shrikrishna Bharambe, Varun Khanna, and Abhijit Berde. It serves a wide range of products like batters, mixes, curries, dals, parathas and ‘fully-ready’ accompaniments to go with them. With the ready-to-cook food solutions brand, consumers can customise each dish and relish delights prepared in the state-of-the-art hygienic kitchen of Fingerlix.
Customers can place orders via Fingerlix Android or iOS app, or website. It is also going to enable artificial intelligence-based solutions to streamline its supply chain and improve its demand forecast to help meet the demand for fresh products regularly while cutting down on wastage.
The company clocks sales of about 6,000 units per day, touching over Rs 12 crore in annual revenues. The startup is planning to get to Rs 500 crore in revenues by 2021.