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A91-backed Exotel's growth skids sharply; hits EBITDA breakeven

VCCircleVCCircle ยท 1y ago
A91-backed Exotel's growth skids sharply; hits EBITDA breakeven
Medial

A91-backed Exotel's growth skids sharply; hits EBITDA breakeven Credit: 123RF.com Customer engagement platform Exotel, which counts A91 Partners and Blume Ventures among its investors, saw its consolidated operating revenue rise by just 6% to Rs 444.49 crore in the financial year ended March 2024, compared with a growth of 32% in FY23 and 167% in FY22. The Bengaluru-based company, however, narrowed its losses by 65% in the fiscal year 2024 and turned earnings before interest, taxes, depreciation, and amortization (EBITDA) positive in the second and third quarter of FY24. โ€œFY24 has been transformative for Exotel as we advanced our product strategy to empower enterprises with cutting-edge AI-driven solutions,โ€ said Adarsh Dikshith, CFO at Exotel. Advertisement It also expanded its international presence by making inroads into markets like Saudi Arabia, the UAE, and the US. It aims to maintain the growth path by continuing to invest in its AI-based voice bots and conversational quality analysis (CQA) and expand presence beyond India. For the current fiscal year it expects to double earnings before interest, taxes, depreciation, and amortization (EBITDA). Exotel, founded in 2011 by Shivakumar Ganesan, Ishwar Sridharan, Vijay Sharma, and Siddharth Ramesh, helps businesses organise and streamline client interaction with its cloud-based AI-powered customer engagement tool. Advertisement In early 2022, the A91 Partners-sponsored company raised $40 million in a Series D round of investment led by Steadview Capital as it eyed expansion into the Middle East and Southeast Asian countries. A year later, the company let go of some employees citing poor performance and business restructuring which affected 80 employees. So far, the company has raised over $100 million in equity and debt and counts Blume Ventures, Sistema, and 360 One (formerly IIFL Asset Management) as its investors. Advertisement Share article on Leave Your Comments

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Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven

EntrackrEntrackr ยท 11d ago
Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven
Medial

Proost Beer crosses Rs 100 Cr revenue in FY25, achieves EBITDA breakeven Proost, a homegrown beer startup, has recorded strong growth in FY25 with its revenue surging by 2.7X. Alongside the rapid revenue expansion, the company also claimed to have achieved EBITDA breakeven during the fiscal year, according to the companyโ€™s press release. The companyโ€™s revenue from operations increased by 174% to Rs 115 crore in FY25 from Rs 42 crore in FY24. According to the company, the growth was led by a steep rise in sales volume, which increased from 2.5 lakh cases in FY24 to 8 lakh cases in FY25. โ€œGrowing from around Rs 42 crore in FY24 to Rs 115 crore in FY25 and turning EBITDA breakeven is a validating moment for the teamโ€ฆ it proves a beer brand in India can be built sustainably and capital efficiently,โ€ said Tarun Bhargava, CEO and co-founder of Proost. The company has achieved EBITDA breakeven, which was largely driven by sharper cost discipline. A major lever was keeping marketing and brand spends under 2% of revenue, while maintaining a lean organisational structure to control people costs. According to TheKredible, Proost has raised $8 million of funding till date, having Dauble Pte, UMJD Family, Dev Punj, and Manshi Parashar as its lead investors. Proostโ€™s capital-efficient growth comes as some early players in the craft beer segment reassess their strategies. Bira 91, once a leading homegrown beer brand, has scaled back its operations over the past year following regulatory disruptions that impacted sales across multiple states. The company also deferred its IPO plans amid pressure on financials. Along with this, it competes with Maka Di, Arbor Brewing Company, Kati Patang, Witlinger, Simba, et al.

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