Online bakery brand Bakingo attracts $16-M from Faering Capital

Gurugram-based 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 will use 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 has presence in Gurugram, Delhi, Noida, Bengaluru, Hyderabad, Jaipur, Chandigarh, Lucknow, Meerut, Panipat, Karnal and Rohtak.