The Baker’s Dozen, a prominent direct-to-consumer (D2C) bakery brand, has successfully raised Rs 33 crore in its latest funding round. Wipro Consumer Care Ventures spearheaded the investment, joined by Fireside Ventures, Mirabilis Investment Trust, and She Capital. This significant capital injection is poised to propel the bakery brand into new territories, enhance distribution networks, and intensify marketing efforts.
Founded in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen has swiftly become a frontrunner in the direct-to-consumer bakery sector. With an impressive range of 55 products, including sourdough bread, cakes, cookies, and crackers, the company has garnered a substantial customer base primarily in the top three metro cities – New Delhi, Mumbai, and Bengaluru.
The funds raised will be strategically allocated to catalyze The Baker’s Dozen’s growth trajectory. A major portion of the capital will be directed towards expanding distribution networks, with a specific focus on entering non-metro cities and international markets. The brand, already present in over 40 cities through online partnerships with Zepto, Blinkit, BigBasket, Amazon, and Flipkart, aims to broaden its accessibility to a wider audience.
In a strategic move last year, The Baker’s Dozen joined forces with Reliance, securing a presence in 200-300 Reliance Smart stores. The company now has ambitious plans to extend this presence to an impressive 3,000-4,000 stores by the fiscal year 2024-25, reflecting a robust partnership with one of India’s largest retail conglomerates.
The company’s business growth targets are equally ambitious, aiming to double its business every 18-24 months. The ultimate goal is to achieve the status of a Rs 500 crore-brand within the next five years. Currently, the brand enjoys a monthly revenue of about Rs 5 crore, with an annual recurring revenue (ARR) ranging between Rs 60-70 crore.
The Baker’s Dozen is not only focused on top-line growth but is also committed to financial prudence. The company anticipates reaching an EBITDA breakeven point by April-May, underscoring its dedication to sustainable business practices.
The recent funding round, led by Wipro Consumer Care Ventures, signifies a pivotal moment in The Baker’s Dozen’s journey. The brand’s diverse product portfolio, strategic partnerships, and commitment to innovation have positioned it as a leading player in the dynamic direct-to-consumer bakery sector. As the company leverages the latest funding to further expand its footprint, enter new markets, and solidify its market standing, industry watchers eagerly anticipate how The Baker’s Dozen will shape the future of the competitive bakery market.
