The Baker’s Dozen raised $5 Mn in Pre-Series A funding led by Fireside Ventures
- ByStartupStory | July 7, 2022
The Baker’s Dozen in its Pre-Series A funding has raised $5 million. A combination of loan and equity finance, headed by Fireside Ventures and an unnamed NBFC, was used to fund the project.
According to co-founder Sneh Jain, “We currently have a presence in Dubai, the funds received will be utilised to develop in the Gulf Cooperation Council (GCC) market and also, penetrate into Southeast Asian nations such as Singapore, Malaysia, and Indonesia.”
The firm intends to invest the money in expanding its brand, employing talent, and creating the capacity to produce the most. The $12.39 billion global bakery market in India is expected to be highly fragmented. Currently, artisan bakers only have a small portion of the company’s ownership, which is mostly held by supermarkets and convenience shops.
The sector, which accounts for the majority of bread and biscuit consumption, lacks significant firms capable of driving the total bakery market or introducing novel products to consumers. In an effort to modernise the traditional Indian bakery market, husband-and-wife team Aditi Handa and Sneh Jain created The Baker’s Dozen in late 2012.
Sneh said that with the use of modified environment packaging, the bakery’s bread’s shelf life extended from one day to over seven days while the shelf life of its cakes and cookies increased to three months.
The new-age bakery in Mumbai presently oversees over 43 unique retail locations in India. Additionally, it has formed partnerships with companies that specialise in rapid commerce, such BigBasket and Instamart, and trade partners, like BigBazaar and StarBazaar.
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