Bakingo Secures Rs 100 Crore to Boost Growth and Expansion

Online bakery startup Bakingo has achieved significant funding, raising Rs 100 crore, approximately $10.5 million, in its Series B financing round. This investment comes from existing investor Faering Capital, a private equity firm. The latest funding round takes place almost three years after the company previously secured $16 million from Faering Capital in November 2023.

The board of FA Gifts Pvt Ltd, which is Bakingo’s parent company, has approved the issuance of 7,436 Series B preference shares at a price of Rs 1,34,477 each to accumulate this funding, as indicated in its filing with the Registrar of Companies (RoC). The funds raised will be directed towards the company’s general operational needs, along with growth and expansion initiatives.

According to analysis from Startup Superb, Bakingo’s valuation has surged by 2.6 times, reaching Rs 1,643 crore (around $173 million), compared to Rs 627 crore during its previous Series A round.

Bakingo was established in 2016 by Himanshu Chawla, Shrey Sehgal, and Suman Patra. The company offers an extensive selection of cakes and desserts, featuring over 400 distinct cake designs, supported by more than 100 kitchens across over 30 cities. Its product range includes cheesecakes, gourmet cakes, and jar cakes, as well as customised cakes tailored for various occasions.

Following this latest funding allocation, Faering Capital now holds a 26.31% stake in the firm based in Gurugram. Bakingo has not yet submitted its financial results for FY26. In FY25, the company recorded revenue from operations amounting to Rs 300 crore, with a reported loss of Rs 16.5 crore during that fiscal year, according to its standalone financial documents submitted to the RoC.