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Food startup Fingerlix raises ₹14 crores from Accel, Swiggy, Zephyr


Mumbai-based ready-to-cook food startup Fingerlix has raised ₹14 crores from existing investors Accel Partners, Swiggy, RB Investments, and Zephyr PeaCock. Earlier last year, Swiggy invested ₹31 crores in the startup’s Series C round. The startup has also moved Sriharsha Majety from director to nominee director with the latest transaction.

Fingerlix has allotted 2,85,362 series C2 and C3 compulsorily convertible preference shares (CCPS) at ₹501.08 per share to raise ₹14.3 crores in this funding round. Accel India and Zephyr Peacock have invested ₹4.5 crores each picking up 89,807 series C2 shares. Swiggy’s parent Bundl Technologies has invested ₹3.5 crores and bought 69,850 C3 shares while Singapore-based RB Investments picked up 35,898 C3 shares for ₹1.8 crores.

Founded by Shripad Nadkarni, Varun Khanna, Shrikrishna Bharambe, Abhijit Berde and Sriharsha Majety in 2016, Fingerlix manufactures a wide range of products including batters, mixes, curries, deals, parathas, and accompaniments.

Following the latest funding, Accel will hold a 23.62% stake in the startup while Zephyr PeaCock will hold 18.53% shares. Swiggy and RB Investments will hold 10.3% and 6.35% stakes respectively. The startup is valued at ₹337 crores post the transaction.

The startup has raised a total of ₹110 crores across four funding rounds. In 2018, Altera Capital infused ₹8.5 crores debt fund into the startup.

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