Ahmedabad-based artisanal bakery brand, The Baker’s Dozen (TBD), has successfully secured INR 33 Crores (approximately $4 million) in a Pre-Series A funding round. The funding was led by Wipro Consumer Care Ventures, with participation from Mirabilis Investment Trust, She Capital, and existing investor Fireside Ventures.
Founded in 2013 by Sneh Jain and Aditi Handa, TBD operates as an omnichannel bakery brand, offering a diverse range of products such as bread, cakes, cookies, crackers, and premixes, all made with natural ingredients. The startup has a presence in over 40 cities across India, including Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, and Kolkata. TBD operates 50 brand stores and collaborates with retail chains nationwide. Its products are also available on various online platforms, including Instamart, BlinkIt, Big Basket, Zepto, Amazon, Flipkart, Swiggy, and Zomato.
The recent funding injection will be utilized to expand TBD’s footprint beyond metro cities, focusing on strengthening its mass-premium product range. Additionally, the startup aims to develop distribution channels and enhance marketing efforts in target cities, employing a balanced strategy of online and offline campaigns.
Co-founder Sneh Jain highlighted the importance of brand building, stating that, “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.”
TBD had previously secured funding in June 2022, raising around INR 25 Crores (approximately $3 million) and witnessing a 2X growth in Annual Recurring Revenue (ARR) since then. The co-founder has ambitious plans for TBD, aiming to make it a INR 500 Crore company within the next five years and exploring opportunities to enter the Middle Eastern market.
In a competitive landscape, TBD’s rival Bakingo secured $16 million in its first-ever funding round a few months ago. The funds were intended to strengthen Bakingo’s distribution footprint by expanding dark kitchens and entering new cities.
