In a notable development for the artisanal bakery sector, The Baker’s Dozen has successfully raised Rs 33 crore in a pre-Series A funding round. The investment was spearheaded by Wipro Consumer Care – Ventures, along with Mirabilis Investment Trust and She Capital. Notably, existing investor Fireside Ventures also joined forces in this funding round.
The primary objective behind this substantial capital infusion is to empower the direct-to-customer (D2C) brand, The Baker’s Dozen, in its quest to diversify its product portfolio. The company aims to extend its market reach beyond traditional boundaries, specifically targeting non-metro areas and Tier I cities across India. Additionally, the funds will be strategically utilized to bolster the mass-premium segment of its product offerings.
The startup envisions a comprehensive expansion strategy that involves strengthening its brand presence through both online and offline campaigns. The financial support is seen as a crucial step in facilitating The Baker’s Dozen’s ambitious plans to carve out an organized niche across multiple bakery categories within the packaged food sector. The brand’s commitment to utilizing authentic ingredients, maintaining unwavering quality standards, and ensuring consistency through cutting-edge manufacturing technology and processes has garnered attention and confidence from investors.
Sumit Keshan, Managing Partner at Wipro Consumer Care – Ventures, expressed optimism about the investment, emphasizing The Baker’s Dozen’s unique position within the market. “TBD is looking to create an organized play across multiple categories in bakery within packaged food which is showing strong traction as a sector. Their approach towards authentic ingredients, no compromise on quality, as well as consistency through a strong focus on modern manufacturing technology and processes makes them a standout with potential to make it big,” Keshan remarked. He also highlighted that this marks the first foray into the food space for Wipro Consumer Care – Ventures, making it the 11th investment from their venture capital fund.
Founded in 2013 by Aditi Handa and Sneh Jain, The Baker’s Dozen has become synonymous with D2C artisan bakery, specializing in sourdough bread and offering a diverse range of natural ingredient-based products, including cakes, cookies, crackers, and premixes. Operating in over 40 cities with a presence in more than 3,000 touchpoints, The Baker’s Dozen has established a robust presence through its stores, modern trade outlets, and various e-commerce platforms.
Prayag Mohanty, Principal at Fireside Ventures, underlined the significance of this funding round, particularly amid uncertain market conditions. “The recent funding round for The Baker’s Dozen amid uncertain market environment reflects a strong investor belief in the brand’s potential to redefine the Indian bakery industry, historically overlooked by significant capital,” Mohanty stated.
As The Baker’s Dozen sets its sights on a dynamic and expansive future, the successful funding round serves as a testament to the brand’s resilience and the growing recognition of the artisanal bakery sector in India. The strategic allocation of funds will undoubtedly play a pivotal role in propelling the brand towards its goals of innovation, market expansion, and enhanced brand visibility.
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