Foodtech major Swiggy has turned very ambitious ever since it raised whopping $1 billion round in late December 2018.
The Naspers-backed company has since then acquired Kint.io, piloted Swiggy Store, expanded milk and daily essential delivery via SuprDaily and most recently was in news to take over UberEats’ India business.
Continuing the pace, it has made the first-ever investment in any startup. Swiggy invested Rs 31.2 crore in Series C round in ready-to-cook food startup Fingerlix.
According to RoC filing with MCA (hat tip: paper.vc), Fingerlix received the aforementioned amount from Swiggy via 20.65 lakh Series C1 CCPS and 10 equity shares equally priced at Rs 151.05 each.
The first tranche of Series C round came in July 2018 when Accel put in Rs 12 crore by purchasing 3.9 lakh Series B2 CCPS. Zephyr and IL&FS Trust also poured in Rs 4.8 crore and Rs 3.2 crore respectively.
While RB Investments also invested Rs 12 crore in the round, debt fund provider Alteria Capital facilitated Rs 8 crore, and preference capital of Rs 96 lakhs.
So overall, Fingerlix has raised a total of Rs 78.66 crore since July 2018, out of which Rs 8 crore was debt capital, and the rest Rs 70.66 crore was preference capital with a minor part in equity.
Started in 2016 by Shripad Nadkarni, Shrikrishna Bharambe, Varun Khanna, and Abhijit Berde, Fingerlix serves a wide range of ready to cook products like batters, mixes, curries, dals, parathas among others.
The startup operates in Mumbai, Pune, Delhi NCR, Bengaluru, Hyderabad, and Chennai.
Previously, it had raised Rs 45 crore in Series B round and Rs 20 crore in Series A round in October and April 2017 respectively.
Responding to Entrackr’s query Swiggy, COO, Vivek Sunder said “At Swiggy, we are committed to elevating the quality of life of consumers by making their lives more convenient. Fingerlix under the able leadership of Shripad & 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. We are very excited to be a part of their growth journey.”
Fingerlix is yet to reply.
