The company clocks sales of about 6,000 units per day, touching over Rs 12 crore in annual revenues
Fingerlix, brand of Ready to cook food has raised 45 crore in its third institutional round of funding from accel partners. Fingerlix will use the capital raised to enter cities beyond Mumbai, Pune, and NCR where it is currently present. The company is looking to expand to Bangalore, Hyderabad Chennai and NCR.
Shree Bharambe, CEO of Fingerlix said "We have one kitchen in Mumbai, which covers the supply for Mumbai and Pune, another is coming up in Delhi and we will also have one in the south. Our sense is that the three facilities will cover the volume for all our cities going forward. This is part of Fingerlix's strategy to expand to the top 10 Indian cities and international markets over the long term. We expect to be active in the new cities in the next six months. Our Rs 500 crore in respiration is to get to` venues by 2021. It's a huge category with a huge opportunity.”
Known for its bets in the consumer internet space including Flipkart, BookMyShow, BlueStone among others, Accel Partners has been increasingly looking at plays in the consumer goods and FMCG space.
Prashanth Prakash, partner at Accel India said "We have been looking at this category (of food) for sometime but for a slightly differentiated play. There are intellectual properties being built at Fingerlix that enable delivery of ready-to-cook foods with longer shelf lives even while maintaining quality and taste. The underlined product market fit is quite disruptive here as far as we are concerned.”
The company clocks sales of about 6,000 units per day, touching over Rs 12 crore in annual revenues.