Artisanal bakery brand, the Baker’s Dozen has secured ₹33 crore in a pre-series A funding round led by Wipro Consumer Care-Ventures. Fireside Ventures, Mirabilis Investment Trust and She Capital also participated in this round.
Sneh Jain, Co-Founder & Managing Director, The Baker’s Dozen told businessline, “ Nearly 70-80 per cent of our sales come from the online channel and almost 75 per cent of our sales come from the three cities of Delhi, Mumbai and Bengaluru. The funds will help us deepen our presence in other metros as well as widen our geographical expansion to tier-1 cities. We are also looking to strengthen our offline presence and will also focus on ramping up strategic marketing and brand-building initiatives.”
Founded in 2013, the Baker’s Dozen is known for its portfolio of breads, cakes, cookies, crackers and premixes. “We are a mix of an artisanal bakery company and a packaged food company. A key focus of the distribution expansion will be to strengthen the presence of the cakes, cookies and crackers portfolio,” he added.
“Since our last funding round, we have seen 2x growth in ARR . We are now looking to double our business every 18-24 months with the long-term ambition of becoming a ₹500 crore-brand within five years. The focus will be on garnering sustainable and profitable growth,” Jain said. The company expects to achieve an EBITDA breakeven point by April-May period.
The bakery industry in India is expected to grow at a CAGR of 11 per cent till 2028 with the premium bakery segment growing at an even faster clip. “ We are witnessing that consumer cohorts with higher disposable incomes are increasingly seeking premium bakery products with high-quality ingredients. We believe we are at the right juncture to capture this growth,” he added.
In a statement, Sumit Keshan, Managing Partner, Wipro Consumer Care - Ventures said, “This is the 11th investment from our VC fund and first in the food space. We are excited to lead this investment round in The Baker’s Dozen (TBD) and partnering with the company in its next stage of growth journey. TBD is looking to create an organised play across multiple categories in bakery within packaged food which is showing strong traction as a sector.”