Bakingo Raises Rs 100 Crore in Series B From Faering Capital, Valuation Jumps 2.6X

Bakingo has raised Rs 100 crore, or approximately $10.5 million, in a Series B funding round led by existing investor Faering Capital. The latest capital infusion comes nearly three years after the company raised $16 million from the private equity firm in November 2023.

The board of FA Gifts Pvt Ltd, Bakingo’s parent company, allotted 7,436 Series B preference shares at an issue price of Rs 1,34,477 per share, according to filings with the Registrar of Companies (RoC).

The company plans to use the fresh capital for general business requirements as well as expansion and growth initiatives. Following the latest funding round, Bakingo’s valuation has increased 2.6X to Rs 1,643 crore, or $173 million, from Rs 627 crore in its previous Series A round, according to Entrackr’s analysis.

Founded in 2016 by Himanshu Chawla, Shrey Sehgal and Suman Patra, Bakingo operates an online bakery business offering cakes and desserts across more than 400 unique cake designs. The company has more than 100 kitchens across over 30 cities and sells cheesecakes, gourmet cakes, jar cakes and customised cakes for different occasions.

Following the latest share allotment, Faering Capital holds a 26.31 percent stake in the Gurugram-based company. Bakingo has not yet filed its financial results for FY26. In FY25, the company reported Rs 300 crore in revenue from operations and a loss of Rs 16.5 crore, according to its standalone financial statements filed with the RoC.

The funding comes as online and tech-enabled bakery businesses continue to expand their delivery networks and production infrastructure, with Bakingo using a distributed kitchen model to serve multiple markets.