Bakingo: occasion share
Bakingo crossed ₹300 Cr in FY25 on a ₹16.5 Cr loss and raised ₹100 Cr from Faering at a ₹1,643 Cr mark. The visible growth engine is kitchen count. But a cake is bought for an occasion, and the number of occasions in a household per year is fixed. An operating memo on why I would not spend this round on the 31st city.