Wipro Ventures led Rs 33 Cr raised by D2C bakery brand The Baker’s Dozen
In a fresh funding round headed by Wipro Consumer Care Ventures, direct-to-consumer (D2C) bakery brand The Baker’s Dozen has raised Rs 33 crore. She Capital, Mirabilis Investment Trust, and Fireside Ventures were also involved in this round.
The Mumbai-based startup saw Fireside lead a $5 million funding round in July 2022.
The money raised will be put toward improving distribution and reaching new markets abroad as well as non-metropolitan areas. Initiatives for marketing and brand development will also receive a sizable portion of the investment.
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.
New Delhi, Mumbai, and Bengaluru are the top three metropolises from which the company sources the majority of its sales. More than 40 cities have seen the brand’s presence thanks to online partners like Zepto, Blinkit, BigBasket, Amazon, and Flipkart.
The Baker’s Dozen began working with Reliance in August of last year, covering 200–300 Reliance Smart stores. By FY24–25, the company hopes to have expanded to 3,000–4,000 locations.
The company hopes to become a Rs 500 crore brand within the next five years, with a target of doubling its business every 18 to 24 months. In addition, the business expects to break even on EBITDA by April or May. At present, The Baker’s Dozen generates approximately Rs 5 crore in monthly revenue, with an annual recurring revenue (ARR) ranging from Rs 60 to Rs 70 crore.
