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Wipro Consumer Care Ventures Secures Rs 33 Crore Funding for The Baker's Dozen

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The Baker’s Dozen, a bakery brand, has raised Rs 33 crore in a recent funding round led by Wipro Consumer Care Ventures. Fireside Ventures, Mirabilis Investment Trust, and She Capital also participated in the funding. Sneh Jain, Co-founder of The Baker’s Dozen, stated, "This investment will fuel our distribution growth and aid expansion into non-metro cities and international markets". The funds will also be utilized for robust marketing and brand-building initiatives.

Founded in 2013 by Sneh Jain and Aditi Handa, The Baker’s Dozen offers a varied product portfolio comprising around 55 items, such as sourdough bread, cakes, cookies, and crackers. The majority of their sales are concentrated in New Delhi, Mumbai, and Bengaluru. Aditi Handa, co-founder, mentions, "Through online partners like Zepto, Blinkit, BigBasket, Amazon, and Flipkart, we’ve reached over 40 cities".

In July of the previous year, Fireside Ventures led a $5 million funding round for the Mumbai-based startup. In August of the same year, The Baker’s Dozen entered into a partnership with Reliance, initially targeting 200-300 Reliance Smart stores, with plans to expand to 3,000-4,000 stores by FY24-25. Sneh Jain notes, "Our objective is to double our business every 18-24 months and achieve Rs 500 crore in the next five years". The company aims for EBITDA breakeven by April-May, with current monthly revenue at about Rs 5 crore and an annual recurring revenue (ARR) ranging between Rs 60-70 crore.