The Baker’s Dozen (TBD), an artisanal bakery brand, has successfully raised INR 33 Crores (approximately $4 million) in a Pre-Series A funding round, with Wipro Consumer Care Ventures taking the lead. Additionally, Mirabilis Investment Trust, She Capital, and the current investor Fireside Ventures participated in this funding round.
Established in 2013 by Sneh Jain and Aditi Handa, the Ahmedabad-based startup is an artisanal bakery brand that operates via an omnichannel mode. It offers a diverse range of bread, cakes, cookies, crackers, and premixes, all crafted from natural ingredients.
In India, the startup has a presence in over 40 cities, such as Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Chennai, Kolkata, and more. With 50 brand stores in operation, the company conducts its business by forming partnerships with retail chains throughout the country.
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TBD’s products can be found on various online platforms, including Instamart, BlinkIt, Big Basket, Zepto, Amazon, Flipkart, Swiggy, Zomato, and others in the digital space.
Rising Beyond Metros: Expansion Plans for The Baker’s Dozen
Looking forward, the startup plans to allocate funds towards expanding its footprint beyond metro cities. Moreover, there is a strategic focus on enhancing the mass-premium segment of its product range.
Co-founder Jain mentioned that they are also focused on establishing distribution channels and implementing marketing initiatives in the target cities. This involves a well-rounded combination of online and offline campaigns, aiming to strengthen TBD’s market position and enhance brand visibility.
“Because we were bootstrapped for a long time, we did not focus on brand building. Our revenue generation was majorly dependent on product availability across quick-commerce apps, ecommerce apps, and retail stores. But with this funding, we are also going to consider brand building,” Jain said.
Regarding investments, Jain noted that the brand successfully secured its initial funding in June 2022, raising approximately INR 25 Cr (equivalent to $3 Mn). Subsequently, the brand has experienced a 2X growth in Annual Recurring Revenue (ARR) since that time.
The co-founder is also aiming to grow TBD into a INR 500 crore INR company within five years and penetrate the Middle Eastern market.
A few months ago, Bakingo, a competitor of TBD, successfully secured $16 million in its first-ever funding round. The primary goal of the company was to fortify its distribution footprint, expanding from 75 dark kitchens to 150 and entering ten new cities.
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