Ready-to-cook startup Fingerlix has raised Rs 8.5 crores ($1.31 million) Alteria Capital. This is the maiden venture debt fund for Alteria Capital. Shripad Nadkarni, Founder and Director at Fingerlix said, ‘raising Venture Debt fund with Alteria Capital, was not only smooth but also quick. We are sure that this is a beginning of a solid relationship. The Alteria Capital team is extremely responsive and knowledgeable’.
With the recent investment, the foodtech startup has raised $12.1 million in total. Fingerlix is the brainchild of Shripad Nadkarni, who teamed up with Abhijit Berde, Varun Khanna, and Shree Bharambe to get it off the ground.
The company provides ready-to-cook products like parathas, batters and mixes, and sides. It majorly serves in Mumbai and has tied up with over 50+ outlets, taking its products into the neighbourhoods. The company raised $7 million in its Series B funding from Zephyr Peacock and Accel Partners. According to few surveys, the Indian Food retail market is expected to hit the $900 billion mark by 2020.
Currently, the startup is making 50% of its revenues from selling fresh batter.