Bakingo raises US$13.6M Series B at US$223.1M valuation
What's the deal? Bakingo, a Gurugram-based online bakery startup, has raised US$13.6M (roughly $10.5 million) in a Series B round led by existing investor Faering CapitalDealroom has a profile for this one. Try Dealroom →. The parent company, FA Gifts Pvt LtdDealroom has a profile for this one. Try Dealroom →, allotted 7,436 preference shares at US$1.83K each to close the fundraise, according to regulatory filings.
What's the endgame? Founded in 2016 by Himanshu Chawla, Shrey Sehgal, and Suman Patra, Bakingo sells cakes and desserts online through a network of more than 100 kitchens across over 30 cities. It offers more than 400 cake designs, including cheesecakes, gourmet cakes, and customised orders for occasions such as birthdays and anniversaries.
The company says the money will fund general business needs, growth, and expansion, without disclosing a detailed allocation plan.
Why now? The round comes after Bakingo raised about $16 million from Faering Capital in November 2023. The deal values the startup at roughly US$223.1M, a 2.6x jump from the US$85.1M valuation set at its Series A.
By the numbers: Bakingo reported US$40.7M in operating revenue in FY25, per standalone filings with the Registrar of Companies. It remained loss-making, posting a net loss of US$2.24M; its FY26 accounts have not yet been filed.
The signal: The valuation climb lands despite a tough funding environment for consumer and direct-to-consumer startups. Faering's continued backing—it remains a significant shareholder—offers continuity and a vote of confidence as Bakingo balances growth spending against the task of narrowing its losses.
Read more: Business Matters
Image credit: Tracy Hunter
