Gaja Capital has invested Rs 30 crore in the company whereas DSGCP has invested reaming Rs.3
Frozen food specialty firm Bakers Circle has raised Rs. 36 crore (approximately $6 million) from private equity firm Gaja Capital and existing investor DSG Consumer Partners (DSGCP), according to a VCCircle report.
The company claimed that Bakers Circle is the premier and only producer of high quality frozen dough and confectionery in India. Their product and clients stand testimony to 10 years of service to the quick service restaurant system in India with a reach of over 2000 stores and counting.
Bakers Circle is raising its third round of funding. Gaja Capital has invested Rs 30 crore in the company whereas DSGCP has invested reaming Rs.3.The funds will be utilised to expand presence in Middle East by setting up a frozen foods plant in the Jebel Ali Free Zone in the UAE to trade in order to India-produced confectionery products.
"We have acquired the requisite real estate for the plant and work is on," Ranjit Kamath, chief financial officer at Bakers Circle, told VCCircle.
The report also stated that the firm has acquired 0.6 acre land in the trade free zone, where it will build 10,000 square feet facility with a capacity to produce 18,000 sandwiches an hour.
"Existing investors will receive money from exit from Gaja Capital through its secondary round of funding of approximately Rs 30 crore over the next two months," says Kamath.
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