Shripad Nadkarni, former marketing head at Coca-Cola India is set to launch a food startup – Fingerlix. The new venture has been set up with an initial investment of $1.3 Mn from Maverix Platforms (Promoter of Fingerlix) and has also brought on board Santosh Desai and few other investors. The startup will sell ready-to-cook foods such as curries, batter and mixes in Mumbai, to begin with.
Fingerlix’s foodstuff is a mix of Indian and Italian food with a shelf life of five days. It would be sold across general trade and hyper local deliveries like Big Bazaar and Reliance Retail.
Shripad Nadkarni had started marketing consulting firm MarketGate after quitting Coca-Cola in 2005. He sold the company to Publicis Groupe about four years ago.
Surveys show that India’s packaged food business is estimated to grow to $50 Bn by 2017. It also says that 76% of parents in metros serve easy-to-make meals at least 10-12 times every month. As per reports, convenience without compromising the taste is a major factor for the growth of packaged food market in India. Hence, the packaged food startup scenario looks favourable in the coming years.
Euromonitor International ranked Nutrela, Sunrich, Mahakosh, Ruchi Gold and Ruchi Star as the top five packaged food companies in India for this year.
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