This investment comes after its expansion to five new markets including the United Kingdom, Australia, New Zealand, the Middle East and Canada. The product is now available in seven markets including the United States and Singapore.
Singapore-based Zimplistic plans to use the funds for its R&D efforts and for business expansion. "We plan to convert the 25% of the world’s population that eats flatbreads into Rotimatic users" the company said in a statement.
"We at Zimplistic are gearing up for Rotimatic’s next great leap. This new round of funding will empower us to focus on cutting-edge R&D efforts in an endeavour to have Rotimatic in every kitchen across the world." said Zimplistic co-founder and CTO Pranoti Nagarkar.
Zimplistic was started in 2008 by Indian couple Pranoti Nagarkar and Rishi Israni and had raised $11.5 million funding from NSI Ventures and Robert Bosch Venture Capital in July 2015.
Rotimatic turns flour, water, and oil into flatbreads such as Roti, Chapati, Puri and Pizza with plans to add wraps and pita bread in the future.
The company claims to have 30,000 customers and had claimed to have generated $20 million in revenue last year, which was its first year of sales.
“Raising series C, for such a futuristic kitchen robotic product signals the coming of age of this invention. With support from our existing investors such as Robert Bosch Venture Capital and NSI Ventures and with new partners such as Credence and EDBI, we are poised to take the kitchen industry by storm. To date, we have more than 30,000 customers who have made more than 15 million flatbreads and are using Rotimatic on a daily basis" added Rishi Israni, CEO and Co-Founder of Zimplistic.
"We see a growing segment that Zimplistic is addressing with its first-mover and Rotimatic product and look forward to helping the company realize its full potential." said TAN Chow Boon, Managing Partner at Credence.
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