The Baker’s Dozen, a direct-to-consumer bakery brand, has raised Rs 33 crore in a funding round led by Wipro Consumer Care Ventures, with participation from Fireside Ventures, Mirabilis Investment Trust, She Capital, and Bengaluru-based Neo Foods.
Previously, in July 2022, Fireside Ventures had led a $5 million round in the Mumbai-based startup.
Expanding reach into non-metro cities
According to the company's statement, the raised capital will primarily be used for distribution growth, with a focus on expanding the brand's reach into non-metro cities and international markets, particularly in Dubai and Abu Dhabi.
A significant portion of the investment will also be directed towards marketing and brand-building initiatives.
Sneh Jain, co-founder and managing director of The Baker’s Dozen, emphasized the importance of expanding beyond online channels and the top three metro cities, aiming to deepen their presence through modern and general trade channels.
What does The Baker's Dozen do?
Founded in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen offers around 55 products, including sourdough bread, cakes, cookies, and crackers.
The brand is currently present in over 40 cities and 3,000+ touchpoints in India, including more than 600 modern and general trade stores. It has also partnered with various online platforms and are in talks with Dmart to extend their presence to physical stores.
It aims to expand its presence to around 3,000-4,000 stores by FY24 -25 and become a Rs 500 crore brand within the next five years.
How well is The Bakzer's Dozen performing financially?
The Baker’s Dozen is targeting to double its business every 18-24 months. Currently, the monthly revenue stands at about Rs 5 crore, with an annual recurring revenue (ARR) of Rs 60-70 crore.
The brand, which stands at (-)5 per cent EBITDA profitability, is eyeing to turn profitable by April 2024. Last fiscal, it clocked Rs 45 crore in revenue and is aiming to close this fiscal at Rs 80 crore.
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