S$15m B-round financing helps startup Zimplistic find its feet (Amended)
Firm explains why it faces a delivery delay following the successful preorder phase of its flatbread-making machine
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WHEN Rishi Israni and Pranoti Nagarkar started taking preorders for their automated chapati-making machine in July last year, they did not expect their invention to sell out within a week. "We were oversubscribed," Mr Israni, who co-founded the company Zimplistic with Ms Nagarkar and is now its chief executive officer, told The Business Times. "After (opening the preorders), we realised it's actually a much bigger effort than when we started."
Preorders for their Singapore-based company's automated machine (dubbed the Rotimatic), which opened in the United States and Singapore, drew in about US$5 million and had to be closed to cope with the demand. The startup company for the Indian flatbread-making machine did not disclose the exact number of machines sold, but with the preorder price of US$599 apiece, it works out to at least 8,300 units.
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