Foodtech Startup Fingerlix Raises $3 Mn Series A Funding From Zephyr Peacock

Ready-to-cook food solutions brand Fingerlix has raised $3 Mn Series A funding from Zephyr Peacock.

Founded in October 2015, Fingerlix is the brainchild of Shripad Nadkarni. He teamed up with Shree Bharambe (Johnson & Johnson), Abhijit Berde (Gate Gourmet) and Varun Khanna (Colgate).

Pankaj Raina, Vice President of 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.”

Launched in the market in May 2016, Fingerlix serves freshly cooked and chilled food prepared in hygienic kitchens. The food startup aims to popularise its products through its web, mobile interfaces and call centre services. It provides fresh ‘almost-ready’ food solutions like batters, mixes, curries, dals, parathas and ‘fully-ready’ accompaniments to go with them.

After launching in a few parts of Mumbai, Fingerlix has recently branched out to Pune. The startup will use the fresh capital to strengthen its growth trajectory and to further intensify its operations in Mumbai, expand into new geographies of Pune and Bengaluru. The company will also  build on its highly successful product line, besides hiring new talent to scale up the team. The brand has plans to expand to top 10 cities in India over the next 18 months.

As per an IBEF report, the Indian food and grocery market is the world’s sixth largest, with retail contributing to 70% of the sales. The Indian food retail market is expected to reach $915 Bn by 2020. Other players in this segment include Mother’s Recipe, Blue Apron, MTR, etc.