Online bakery startup Bakingo has raised Rs 100 crore or approximately $10.5 million in its Series B round from existing investor private equity firm Faering Capital.

This funding comes nearly three years after the company last raised $16 million from Faering Capital in November 2023.

The board of FA Gifts Pvt Ltd, parent company of Bakingo, has allotted 7,436 Series B preference shares at an issue price of Rs 1,34,477 each to raise the aforementioned amount, according to its filing with the Registrar of Companies (RoC).

The proceeds from the funding will be utilized towards general business requirements and growth & expansion purposes by the company, the filing stated.

As per Entrackr’s analysis, the firm’s valuation jumped 2.6X to Rs 1,643 crore or $173 million from Rs 627 crore in its previous Series A round.

Founded in 2016 by Himanshu Chawla, Shrey Sehgal, and Suman Patra, Bakingo offers a range of cakes and desserts across more than 400 unique cake designs, supported by over 100 kitchens across more than 30 cities. Its offerings include cheesecakes, gourmet cakes, and jar cakes, along with customized cakes for various occasions.

Following the allotment of this latest tranche, Faering Capital holds 26.31% stake in the Gurugram-based firm.

Bakingo is yet to file its financial for FY26. In FY25, it reported Rs 300 crore from revenue from operations with a loss of Rs 16.5 crore during the period, according to its standalone financial statements filed with the RoC.