It’s Fingerlix-ing Good As Fingerlix Raises 20 Crores In Capital

With the world propelling on faster and faster it comes as no surprise that people are doing their best to beat the time crunch which we are all subject to. Start-ups are waiting to cash in on that with ready-to-eat food items which save you valuable time and energy. Fingerlix is one such brand who have already raised 20 crore Rupees of funding from Zephyr Peacock. This brings the total capital raised to 28 crores.

Fingerlix is looking to use a part of the capital to build on its product line, which currently features 15 SKUs (Stock Keeping Units), of which they have some great options: batters for idli, dosa and vadas, dals, curries, biryanis, chutneys. They also plan to use some of the capital to strengthen their team.

Shree Bharambe, a founder of Fingerlix, stated that with this latest round of fund infusion, Fingerlix would seek to expand their products as well as to move into newer cities to a larger customer base. A part of the capital will be used to further intensify the Mumbai-based company’s operations in the city, as also to expand deeper into Pune. Lucky for all of us here in Namma Bengaluru, Fingerlix is planning to launch in Bengaluru by July.

The brand has an overall target of spreading to top 10 cities in India over the next 18 months by widening its distribution channels and strengthening regional presence in high-demand geographies.

Unsurprisingly, Idli and dosa batter is their cash cow, bringing in about 50 of their overall revenue. Shripad Nadkarni, founder of the company mentioned that within these products multigrain batter is Fingerlix’s star product. The expansion of its product portfolio will include an additional 15 SKUs that will be seasonal and regional especially in the area of snacks. I’m sure that these would be highly welcome to the Indian consumer.

Pankaj Raina, vice-president at Zephyr Peacock, stated their view that modern trade will help position Fingerlix in the market, while general trade will be a key driver for this business going forward. Currently, Fingerlix clocks sales of over 3,000 units per day, not too shabby, but after this news, I’m sure their sights are set much higher.