After a gap of eight months, ready-to-cook food brand Fingerlix has raised another tranche in its Series C round, raising around Rs 20 crore from Swiggy and some other investors.
Regulatory filings show that the Mumbai-based company has passed a special resolution to allot 349,249 Series C2 CCPS to 11 investors and 47,518 optionally convertible preference shares to Swiggy at an issue price of Rs 501.08 per share to raise Rs 19.88 crore in total.
Rhodium Trust, Accel Partners and Swiggy have invested Rs 5 crore, Rs 2.5 and Rs 2.33 crore respectively. Other investors such as Horizon Techno, Frigerio Conserva Allana and a few individual investors have put in the remaining amount.
Last year, Fingerlix had picked two back-to-back rounds including Rs 4 crore from Singapore-based Horizon Techno PTE and Rs 14 crore from Accel, Zephyr Peacock, Swiggy, and RB Investments.
After the allotment of fresh shares, Swiggy now controls a 25.03% stake in the company while the promoter’s holding has been diluted to 22%. In February 2019, the food tech unicorn had invested Rs 31.2 crore in Fingerlix’s Series C round.
Notably, the company has achieved a 30% surge in its valuation from Rs 337 crore in April 2020 to Rs 440 crore post the current investment.
Launched by Shripad Nadkarni, Shrikrishna Bharambe, Varun Khanna and Abhijit Berde in 2016, Fingerlix serves a wide range of products like batters, mixes, curries, dals, parathas and ‘fully-ready’ accompaniments. The startup operates in Mumbai, Pune, Delhi NCR, Bengaluru, Hyderabad and Chennai, and it also provides customised dishes to its consumers.
Fingerlix is operated by Maverix Platforms Pvt. Ltd, which also runs brands such as Canteen Central, Great Indian Khichdi, HomePlate, Meal Studio, Zippy Bowls, and Happy Fix.
Desk
Verified JournalistDiscover the latest startup, business, and funding news. Get insights on trends, IPOs, mergers, and acquisitions. Perfect for entrepreneurs, investors.