The bakery startup Creme Castle has secured Rs 7 crore in seed funding. This investment round was led by V3 Ventures, with participation from venture capitalist Arjun Vaidya, CarDekho CEO and co-founder Amit Jain, and Indian Silicon Ventures.
The funding boost comes at an opportune time. According to CRISIL data, the Indian bakery market is projected to grow significantly, reaching sales of Rs 1,850 billion by FY2028 (an increase of 11-12% between 2024 and 2028).
“India is increasing spending on celebrations and social media has led to rise in demand in tier 2 and tier 3 cities,” the statement said.
Pranjay Mittal, chief executive of Creme Castle said: “Consumers are increasingly embracing celebrations, reflecting growing enthusiasm to mark special occasions, and among the reasons our investors believe Crème Castle will be among the top-three players in this (specialized bakery) space by year 2026.”
Founded in 2013, Creme Castle delivers to over 20 locations and have ambitious plans to expand to 15 new markets by the end of FY2025. The company is seeing success through a mix of sales channels. Over half of their revenue comes directly from their own platform, with the remaining portion coming from popular food delivery apps like Zomato and Swiggy.
