Omnichannel bakery brand Bakingo, with a major focus on cakes, has raised about USD 16 million as growth capital from Faering Capital in its first external funding round.
The company stated that it will utilise this capital to strengthen its distribution footprint by expanding from 75 dark kitchens to 150 and entering 10 new cities.
Himanshu Chawla, Shrey Sehgal, and Suman Patra founded the company in 2016. It is headquartered in Gurugram with a presence in Gurugram, Delhi, Noida, Bengaluru, Hyderabad and Mumbai.
According to media reports, Bakingo recently expanded into Jaipur, Chandigarh, Lucknow, Meerut, Panipat, Karnal and Rohtak.
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