Amritsar, NFA Post: Ready-to-cook food brand Fingerlix has raised 200 million rupees from Swiggy and other investors as part of its Series C funding round.
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 501.08 rupees per share to raise 198.8 million rupees in total, according to regulatory filings.
The funding round saw Rhodium Trust invest 50 million rupees, Accel Partners invest 25 million rupees, and 23.3 million by Swiggy.
The remaining amount was invested by investors such as Horizon Techno, Frigerio Conserva Allana, and a few individual investors.
After this fresh round, the promoters holding has been diluted to 22%, while Swiggy now controls a 25.03% stake in the company. Earlier in February 2019, Swiggy had invested 312 million in Fingerlix’s Series C round.
The 2016-launched brand has had a 30% surge in its valuation after the current investment. In April 2020 Fingerlix’s valuation stood at 3.37 billion rupees, and has now become 4.40 billion rupees.
Operated by Maverix Platforms Pvt. Ltd, Fingerlix runs in Mumbai, Pune, Delhi-NCR, Hyderabad, Bengaluru, and Chennai.
The startup serves a wide range of products such as batters, mixes, curries, dals, parathas and ‘fully-ready’ accompaniments. It also provides customised dishes to its consumers.
