Bakingo has raised $16 million (over Rs 130 crore) in the first round of growth capital from private equity firm Faering Capital. The startup plans to use the funds to strengthen its distribution network by expanding from 75 dark kitchens to 150 and by entering 10 new cities.
Bakingo is an FSSAI-certified online cake and bakery brand where you can order from different varieties and for different occasions, and it will be delivered to your doorstep. From birthday cake to anniversary cake or wedding cake, all types of varieties are available. The startup currently provides the service in 13 cities in India, including Gurugram, Delhi, Noida, Bengaluru, Hyderabad, Mumbai, Jaipur, Chandigarh, and Lucknow, and it plans to add 10 more cities by using this new investment.
The company’s Co-founders are Himanshu Chawla, Shrey Sehgal, and Suman Patra, and it is headquartered in Gurugram, Haryana, India.