Gaja Capital, DSG invest $6m in India's Bakers Circle

The round was led by Gaja which invested the bulk of the capital, INR300 million, with DSG putting in the rest. This represents the third round raised by the firm.

AVCJ Research data show that that Gem India Advisors originally acquired a 26% stake in the company for INR115 million in 2006. GEM then returned to lead another INR140 million round in 2012.

The Gurgaon-based business produces a variety of frozen bakery and pastry products suchs as breads, rolls, burger buns, cakes, pies, and pizza and pastry doughs. It clients include fast food giant such as McDonalds, Subway, KFC, Pizza Hut, Starbucks, and Dunkin Donuts.

According to VC Circle, the business will use the extra money to aid its expansion into the Middle East where it will set up a frozen foods plant in the Jebel Ali Free Zone in the united Arab Emirates.The 10,000 square feet automated facility will have the capacity to produce 18,000 sandwiches an hour.

Gaja reached a $130 million first close on its second fund - Gaja Capital Fund II - in October last year.The fund is looking to raise up to $225 million by the middle of this year with a hard cap of $250 million.

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• Topics
• Consumer
• South Asia
• Expansion
• Consumer
• India
• Gaja Capital Partners
• Growth capital