Ready-to-cook foodtech startup Fingerlix has reportedly raised $7 Mn (INR 45 Cr) from venture capital firm, Accel Partners. Existing backer Zephyr Peacock also participated in the startup’s third institutional funding round.
According to sources, the newly-secured financing will allow Fingerlix to expand its geographical reach beyond Mumbai, Pune and NCR. The investment will be used to enter the markets in 10 Indian cities, including Bengaluru, Hyderabad and Chennai. The funding will also be spent on bolstering the company’s presence in Delhi/NCR.
Commenting on the fundraise, Prayank Swaroop, Principal at Accel Partners stated, “Consumers are juggling today with less time available for cooking, lack of healthy options, tasteless frozen foods – the joy of cooking is dying! Fingerlix is trying to solve this big growing need for healthy and tasty cooking at home with ease, a vision we believe in and with a team that we think can solve it better than anyone else.”
Pankaj Raina, Vice President of Zephyr Peacock, added, “The past few years have witnessed a rise in demand for convenience foods led by rapid changes in consumers’ lifestyle and food preferences. However, the market for ready-to-cook fresh food remains largely untapped. Given the exciting response that Fingerlix has received in Mumbai and Pune, we believe it is well-positioned to become the market leader in this emerging segment across the country.”