Wipro Consumer Care Ventures leads Rs 33 crore funding round for The Baker’s Dozen

• ByStartupStory     |    January 11, 2024

Bakery brand The Baker’s Dozen has secured Rs 33 crore in a recent funding round, spearheaded by Wipro Consumer Care Ventures, with participation from Fireside Ventures, Mirabilis Investment Trust, and She Capital. “This investment will fuel our distribution growth and aid expansion into non-metro cities and international markets,” says Sneh Jain, co-founder of The Baker’s Dozen. The funds will also be allocated to robust marketing and brand-building initiatives.

Established in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen boasts a diverse product range of approximately 55 items, including sourdough bread, cakes, cookies, and crackers. The majority of their sales emanate from New Delhi, Mumbai, and Bengaluru. “Through online partners like Zepto, Blinkit, BigBasket, Amazon, and Flipkart, we’ve reached over 40 cities,” adds Aditi Handa, co-founder.

Last July, Fireside Ventures led a $5 million funding round for the Mumbai-based startup. In August of the same year, The Baker’s Dozen initiated a partnership with Reliance, targeting 200-300 Reliance Smart stores initially, with plans to expand to 3,000-4,000 stores by FY24-25. 

“Our objective is to double our business every 18-24 months and achieve Rs 500 crore in the next five years,” notes Sneh Jain. The company aims for EBITDA breakeven by April-May, with current monthly revenue at about Rs 5 crore and an annual recurring revenue (ARR) ranging between Rs 60-70 crore.

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