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Swiggy's parent Bundl Technologies invests Rs 31.2 crore in Mumbai-based ready-to-cook food brand Fingerlix

Online food startup Swiggy's parent company Bundl Technologies has reportedly invested Rs  31.2 crore in Mumbai-based ready-to-cook food brand Fingerlix, a media report said.

According to The Economic Times, the startup has also received funds from its existing investors including Accel Partners and Zephyr Peacock. Fingerlix is in the process of raising Series C funds and expecting to receive Rs 63 crore.

In March last year, venture debt firm Alteria Capital invested in Fingerlix. Fingerlix had raised Rs 8.5 crore in its first debt financing exercise.

In October 2017, Fingerlix had raised $7 million (approx Rs 45.50 crore) from Accel Partners and Zephyr Peacock in Series B round of fundraising.

Fingerlix' product range includes batters, mixes, parathas, snacks and ready-to-eat accompaniments.

 Swiggys parent Bundl Technologies invests Rs  31.2 crore in Mumbai-based ready-to-cook food brand Fingerlix

Representational image. News18.

After capturing a significant fresh food market share in Mumbai and Pune, Fingerlix launched its portfolio in the Delhi NCR region in August 2017.

In series A round in the same year, Fingerlix had raised $3 million funding from Zephyr Peacock.

Last week, it was reported that Uber Eats was in final stages of negotiations to sell its business to industry leader Swiggy. If everything goes through, this would be the biggest acquisition that Swiggy has ever made. The reports indicate that the deal will be a share swap giving Uber Eats 10 percent share in Swiggy.

Earlier this month, Swiggy launched 'Swiggy Stores' moving beyond its core food delivery segment to provide access to consumers items across multiple categories.

The company will deliver from these stores "in categories such as fruits and vegetables, kiranas and supermarkets, florists, baby care, health and supplements among others," Swiggy said in a statement.

Swiggy Stores will give its merchant-partners unmatched access to a combination of core assets to reach more existing and new customers, the statement said.

In December 2018, Swiggy had raised $1 billion in a funding round, led by South African internet group Naspers Ltd.

China's Tencent Holdings Ltd, Hillhouse Capital and Wellington Management Company also took part in the funding round, together with Swiggy's existing investors, DST Global, Meituan Dianping and Coatue Management, Swiggy said.

Naspers said in a statement it had invested $660 million in Swiggy during the round.

Founded in 2014, Swiggy currently connects consumers to over 60,000 restaurant partners across more than 80 cities.

With inputs from agencies

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Updated Date: Feb 26, 2019 17:30:59 IST