Creme Castle, a burgeoning bakery venture, has secured INR 7 crore in seed funding from V3 Ventures. This investment is spearheaded by venture capitalist Arjun Vaidya, along with participation from Amit Jain, CEO and co-founder of CarDekho, and Indian Silicon Ventures.
Market Growth and Opportunity in the Indian Bakery Sector
Citing data from CRISIL, the company stated that the Indian bakery market is expected to grow at a rate of 11-12% annually between 2024 and 2028, reaching sales of INR 1,850 billion by FY2028. “India is spending more on festivities, and demand in tier 2 and tier 3 cities has increased as a result of social media,” the statement said.
Pranjay Mittal, chief executive of Creme Castle, said, “Consumers are increasingly embracing celebrations, reflecting a growing enthusiasm for marking special occasions. This trend is one of the reasons our investors believe Crème Castle will be among the top three players in the specialised bakery space by 2026.”
Established in 2013, Creme Castle currently delivers across more than 20 pin codes and aims to rapidly expand into 15 new markets by FY2025. Over half of the brand’s revenue comes from its own platform, with the remainder generated through aggregators Zomato and Swiggy.
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