Direct-to-consumer (D2C) bakery brand The Baker’s Dozen has raised Rs 33 crore in a new funding round led by Wipro Consumer Care Ventures. Fireside Ventures, Mirabilis Investment Trust and She Capital also participated in this round.
In July 2022, Fireside had led a $5 million round in the Mumbai-based startup.
The proceeds will be used to enhance distribution growth, expanding reach into non-metro cities and international markets. A significant portion of the investment will also be directed towards marketing and brand-building initiatives.
Founded in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen offers a range of around 55 products, including sourdough bread, cakes, cookies and crackers.
The company draws majority of its sales from the top three metro cities – New Delhi, Mumbai and Bengaluru. The brand, through online partners like Zepto, Blinkit, BigBasket, Amazon and Flipkart, is present in more than 40 cities.
In August last year, The Baker’s Dozen partnered with Reliance spanning 200-300 Reliance Smart stores and aims to expand its presence to around 3,000-4,000 stores by FY24-25.
The firm targets to double its business every 18-24 months and aims to become a Rs 500 crore-brand within the next five years. Furthermore, the company anticipates reaching an EBITDA breakeven point by April-May. Currently, the monthly revenue for The Baker’s Dozen stands at about Rs 5 crore, with an annual recurring revenue (ARR) of Rs 60-70 crore.
