Gurugram-based omnichannel bakery brand, Bakingo, has secured $16 million in its first external funding round led by Faering Capital. The investment aims to bolster Bakingo’s distribution network by expanding its dark kitchens from 75 to 150 and venturing into 10 new cities. Additionally, the funds will support the establishment of exclusive brand stores and technological enhancements to elevate production, supply chain, and forecasting capabilities. Founded in 2016 by Himanshu Chawla, Shrey Sehgal, and Suman Patra, Bakingo has seen robust growth and profitability, catering to over six million customers across Gurugram, Delhi, Noida, Bengaluru, Hyderabad, and Mumbai.
Faering Capital Co-founder and MD Sameer Shroff commended Bakingo’s achievement of building a profitable brand of approximately Rs 200 crore without external funding. Following the investment, Shroff will join the company’s board. Himanshu Chawla expressed confidence in Bakingo’s potential to become India’s leading bakery and gifting platform. Bakingo recently expanded its footprint to Jaipur, Chandigarh, Lucknow, Meerut, Panipat, Karnal, and Rohtak, offering a diverse range of premium-quality cakes and desserts with over 100 SKUs.
That’s fantastic news, Bakingo is making waves in the bakery industry. They have recently secured an impressive $16 million in funding, which will help them expand their distribution network and reach even more customers. Sending my best wishes to the Bakingo team for their continued success!~ Dr Shishir Gupta founder & CEO of StartupLanes
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