Mumbai: Fingerlix, a ready-to-cook food brand, on Tuesday said it was raising $7 million from venture capital firm Accel Partners and existing investor Zephyr Peacock in a series B round of funding, the company said in a statement.
Fingerlix, which sells a range of products including batters, mixes, parathas, snacks, Upma Mix, Biryani Mix, Puran Poli, began operations in Mumbai and Pune. It has recently launched its products in the national capital region (NCR).
“With this latest round of funding, we aim to introduce more offerings and foray into newer cities to introduce Fingerlix to a larger customer base. We look forward to working closely with the investors in the areas of analytics, widening of our distribution channels and expanding our presence across high-demand geographies," said Shripad Nadkarni, founder of Fingerlix.
The company also plans to expand into newer geographies of Bengaluru, Hyderabad and Chennai and also launch new recipe-based offerings. According to Pankaj Raina, vice president of Zephyr Peacock, the past few years have witnessed a rise in demand for convenience foods, led by a rapid change 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," he said.