Fingerlix, the fresh, ready-to-cook food solutions brand targeted at today’s progressive homemakershas scaled a significant milestone by raising US $3 million from Zephyr Peacock (ZP)in its Series A round of funding.
After having successfully made its presence felt in a few parts of Mumbai, Fingerlix had recently branched out in Pune and had also launched a new delicacy, PuranPoli to further diversify its product portfolio. The fresh capital comes at the perfect juncture in Fingerlix’s growth trajectory and will be leveraged to further intensify its operations in Mumbai, expand into newer geographies of Pune and Bengaluru and build on its highly successful product line, besides hiring new talent to scale up the team.
Zephyr Peacock’s move to invest in Fingerlix underlines the immense potential of the convenience food category, especially ready-to-cook traditional Indian food and the rising popularity of Fingerlix among busy, urban consumers. The brand has an overall target of spreading to top 10 cities in India over the next 18 months, a target which has received a shot in the arm with the latest round of fund raising. Fingerlix serves a wide range of products like batters, mixes, curries, dals, parathas and ‘fully-ready’ accompaniments to go with them. With the ready-to-cook food solutions brand, people are able to customize each dish and relish delights prepared in the state-of-the-art hygienic kitchen of Fingerlix.
Speaking on the milestone, Fingerlix, Founder Director, Shripad Nadkarni and Founder & CEO, Shree Bharambe said, “At Fingerlix, our aim is to offer fresh food with absolutely no preservatives to customers. With this latest round of fund infusion, we aim to introduce more offerings and foray into newer cities to spread Fingerlix to a larger customer base. We are delighted to associate with Zephyr Peacock, and look forward to working closely with them inthe areas of product development, market expansion, widening of our distribution channels and strengthening our regional presence in high-demand geographies.”
Vice President, Zephyr Peacock, Pankaj Raina 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.”
Zephyr Peacock makes private equity investments targeting India’s fast growing small and medium market segments. By virtue of its global network and dedicated operations team, it provides critical support to the portfolio company’s management team to helpposition the business for long-term growth.