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Atomberg nears Rs 650 Cr revenue in FY23, losses surge 3.5X
Entrackr
·
1y ago
Medial
Consumer appliances brand Atomberg has raised $86 million in its Series C round, led by Temasek. The Mumbai-based company reported a surge in revenue from operations, reaching ₹645 crore in FY23 from ₹346 crore in FY22. Atomberg offers energy-efficient fans, mixer grinders, and smart locks, and claims to have sold over three million units to date. However, losses for the company increased significantly to ₹138 crore in FY23 from ₹39 crore in FY22. Atomberg aims to expand its market share and improve margins with its recent funding.
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Atomberg surpasses Rs 1,000 Cr in revenue in FY25
YourStory
·
4m ago
Medial
Atomberg Technology, a consumer appliances brand, achieved over Rs 1,000 crore in revenue for the financial year 2024–25. Co-founder Sibabrata Das attributed this success to the team's ability to overcome uncertainties. The company previously reported Rs 848 crore in revenue for FY24, a significant increase from FY23, and reduced its losses by 31%. Atomberg, founded in 2012, specializes in energy-efficient products and recently raised $86 million in a funding round.
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Byju’s-owned Great Learning nears Rs 400 Cr revenue in FY23, loses Rs 222 cr
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·
1y ago
Medial
Great Learning, an edtech company acquired by Byju's, experienced a 24.9% growth in revenue in FY23, reaching Rs 391 crore. Income from digital content accounted for 48% of the total revenue. Employee benefits comprised 53% of the expenditure, which decreased to Rs 328 crore in FY23. The company reduced its losses by 27.7% to Rs 222 crore in FY23. Byju's reportedly put Great Learning on sale along with US-based Epic to clear its debt.
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Giva earns Rs 165 Cr revenue, loses 45 Cr in FY23
Entrackr
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1y ago
Medial
Jewellery startup GIVA reported a revenue of Rs 165 crore in FY23, a significant increase from Rs 84 crore in FY22. Despite the growth in revenue, the company's losses also increased, resulting in a 2.4X surge from FY22 to reach Rs 45 crore in FY23. GIVA's expenses, particularly in marketing and employee benefits, played a role in the increased losses. The company faces challenges in attracting customers, particularly in the affordable jewellery segment. The upcoming fiscal year will determine if GIVA can find a sustainable path to recovery.
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Awfis nears Rs 900 Cr income in FY24; losses contract 62%
Entrackr
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1y ago
Medial
Co-working solutions provider Awfis showcased a 55.8% growth in scale during the fiscal year ending March 2024. However, the losses for the Amit Ramani-led firm contracted 61.8% to Rs 17.8 crore in FY24. On a year-on-year basis, Awfis’ revenue from operations grew 55.8% to Rs 849 crore in FY24 from Rs 545 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. On a sequential basis, the firm posted a 5% increase in revenue to Rs 232 crore in Q4 FY24 from Rs 221 crore in Q3 FY24. Founded in 2015, Awfis offers customized office spaces for startups, SMEs, and large corporations including ancillary services like food and beverages, IT support, and infrastructure services among others. Income from co-working space rental and allied services formed 73% of the total operating revenue which spiked 47.7% to Rs 619 crore in FY24 from Rs 419 crore in FY23. Income from construction and fit-out projects, facility management, and sale of food items were other revenue drivers for Awfis in the fiscal year ending March 2024. See TheKredible for the complete revenue breakup. Awfis’s burn on subcontract stood at Rs 171 crore in FY24 while its employee benefits saw an increment of 41.7% to Rs 136 crore in FY24. Its finance, legal, depreciation and amortization, purchase of traded goods, and other overheads took the overall expenditure up by 45.8% to Rs 892 crore in FY24 from Rs 612 crore in FY23. Head to TheKredible for the detailed expense breakdown. The 55.8% surge in scale and controlled cost mechanism helped Awfis to contract its losses by 61.8% to a marginal Rs 17.8 in FY24 from Rs 46.6 crore in FY23. On a unit level, it spent Rs 1.05 to earn a rupee in FY24. The company’s stock was listed on NSE on May 30 and opened at Rs 435 with a 13.58% premium over the issue price of Rs 383. The improvement in the fundamentals pushed its share price to Rs 500.1 (as of June 19). Awfis currently holds a total market capitalization of Rs 3,472 crore.
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Just Dogs nears Rs 100 Cr revenue in FY24, losses balloon
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3m ago
Medial
Just Dogs, a retail and services brand specializing in pet care, reported a 30% year-on-year increase in revenue for the fiscal year ending March 2024. However, the Ahmedabad-based company also saw a significant rise in losses during the same period as it pushed for growth. Just Dogs’ revenue from operations increased by 32% to Rs 94 crore in FY24 from Rs 71 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2011, Just Dogs offers dog food, supplements, accessories, and other pet products through its platform. The startup is developing a full-stack online experience for pet parents, along with expanding its network of offline stores. Just Dogs generates its revenue from a mix of product and service categories. Revenue from pet food remained its dominant stream, accounting for over 70% of the topline and rising 47% to Rs 66 crore in FY24. Income from pet treats and grooming products grew to Rs 10 crore and Rs 2 crore, respectively. However, revenue from services declined to Rs 16 crore from Rs 17.5 crore in FY23. On the cost front, the company’s largest expense — material costs — rose 37% to Rs 67 crore, making up nearly two-thirds of the total expenses. Employee benefit expenses surged by 62.5% to Rs 13 crore, while marketing and rent each doubled to Rs 6 crore and Rs 10 crore, respectively. Other operational overheads amounted to Rs 10 crore in FY24. Overall, the company’s expenses outpaced its revenue growth, rising 47% to Rs 106 crore in FY24 from Rs 72 crore in FY23. Despite the topline growth, the company slipped deeper into the red with losses ballooning to Rs 11 crore in FY24 — a sharp surge from a marginal loss of Rs 6 lakh in FY23. Its ROCE and EBITDA margin stood at -25.12% and -10.21% respectively. At the unit level, Just Dogs spent Rs 1.13 to earn a rupee of operating revenue in FY24, compared to Rs 1.01 in FY23. The Ahmedabad-based startup recorded current assets worth Rs 43 crore in FY24, which includes Rs 8 crore in cash and bank balances. Just Dogs has raised a total of $7 million in funding to date, having Sixth Sense Ventures as its lead investor, which holds a 23% stake in the company. Meanwhile, Co-founders Ashish Anthony and Poorvi Anthony jointly hold a 77% stake in the company, leaving ample room for future fundraising opportunities. It competes with Peak XV-backed Heads Up for Tails, Supertails, which raised $15 million in a round led by RPSG Capital — Wiggles, and several other players in the pet care space.
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Pine Labs nears Rs 1,600 Cr revenue in FY23 with sound economics
Entrackr
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1y ago
Medial
Merchant commerce and payments platform Pine Labs has shown impressive growth, with its operating scale increasing over two-fold in the past two fiscal years. During the fiscal year ending in March 2023, the company reported a revenue of Rs 1,588 crore, up from Rs 726 crore in FY21. Additionally, Pine Labs managed to reduce its losses by over 12% in FY23. The company operates in three business segments: digital payments, issuing, and consumer applications. Its revenue from the payments segment saw a significant spike of 75.1% to Rs 1,077 crore in FY23 compared to the previous year.
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Renee Cosmetics’ revenue crosses Rs 100 Cr in FY23
Entrackr
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1y ago
Medial
Ahmedabad-based beauty brand Renee Cosmetics experienced rapid growth, with its revenue surging 3.1 times to Rs 100.4 crore in FY23 from Rs 32.4 crore in FY22. However, the company also saw a 4.5 times increase in losses during the same period. Renee Cosmetics offers a cruelty-free range of eye makeup, lip colors, skin serums, and highlighters, available on various e-commerce platforms and over 650 shop-in-shop stores in India. Advertising costs accounted for a significant portion of the company's expenses, growing 3 times to Rs 60.1 crore in FY23.
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IntrCity crosses Rs 320 Cr income in FY24, nears break-even
Entrackr
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7m ago
Medial
Travel-tech platform IntrCity, which owns SmartBus and RailYatri, could not replicate its FY23 growth momentum in FY24. After achieving six-fold growth in FY23, the company recorded a modest 16% year-on-year revenue increase for the fiscal year ending March 2024. However, the Nandan Nilekani family trust-backed firm reduced its losses by over 52%, bringing them below Rs 10 crore in FY24. IntrCity's revenue from operations grew 15.9% to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23, as per the company's consolidated financial statements with the Registrar of Companies. IntrCity operates web and mobile platforms for its brands, SmartBus and RailYatri. The flagship brand, IntrCity SmartBus, caters to long-distance bus routes across India, while RailYatri offers train travel services such as ticket booking and meal ordering. As per the filings, the majority of commission revenue came from the Indian Railway Catering and Tourism Corporation (IRCTC) during FY24. The company collected 93.8% of the revenue from bus operations which went up 16.9% to Rs 297.71 crore in FY24. It also earned Rs 18.08 crore from commission along with Rs 1.55 crore via advertisement services. Additionally, collection from interest and gain on financial assets (non-operating revenue) stood at Rs 3.38 crore. Including this, the company's overall revenue climbed to Rs 320.7 crore in FY24. On the expense side, the cost of revenue (direct cost for the distribution of services) accounted for 68.3% of the total expenditure. This cost grew 14.2% to Rs 225.8 crore in FY24 from Rs 197.8 crore in FY23. Operation and maintenance costs went up 9.3% to Rs 43.5 crore while spending on employee benefits remained almost flat at Rs 36.85 crore during the last fiscal year. The company incurred Rs 7.42 crore on advertisement and promotions and paid Rs 3.9 crore commission for catering and payment gateway services. In the end, IntrCity's expenses increased 9.7% to Rs 330.6 crore during FY24 in comparison to Rs 301.3 crore during FY23. On the back of controlled expenditure and double-digit growth in revenues, the firm managed to bring down its losses by 53.7% to Rs 9.9 crore in FY24. The losses were at Rs 21.4 crore in the previous fiscal year. Operating cash outflows of IntrCity also improved by 69.8% during the period and stood at Rs 6.1 crore. As of the last fiscal year, the firm's outstanding losses stood at Rs 242.5 crore. During FY24, the travel-tech platform managed to improve its EBITDA margin by 459 BPS to -2.08%. On a unit level, IntrCity spent Rs 1.04 to earn an operating revenue during the said period. IntrCity has Rs 17.4 crore in cash and bank balances while its total assets stood at Rs 41.2 crore for the fiscal year ended March 2024. As per the startup data intelligent platform TheKredible, IntrCity has raised over $50 million to date and was valued at around Rs 912 crore or $110 million in the latest funding round in February this year. Among online travel aggregator (OTA) platforms, MakeMyTrip is the largest player in terms of revenue. Ixigo, EaseMyTrip, Yatra, and Cleartrip are also the key players in the segment.
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Rapido’s operating revenue nears Rs 650 Cr in FY24; cuts losses by 45%
Entrackr
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8m ago
Medial
Consistent scaling and controlled expenditure across departments helped Rapido reduce losses by 45% – down to Rs 371 crore in FY24 from Rs 675 crore in FY23. The operating revenue for FY24 was Rs 648 crore, with a total revenue of Rs 695 crore. The company reported a net income of Rs 362 crore, with significant growth in delivery and subscription services. Cost management strategies included reducing employee costs to Rs 172 crore and marketing expenses to Rs 214 crore. Rapido is now the second-largest player in the ride-hailing market, following Uber.
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Atomberg revenue grows 31% to Rs 848 Cr in FY24
Entrackr
·
9m ago
Medial
Consumer appliances brand Atomberg reported over 31% growth in its operating revenue in the fiscal year ending March 2024. At the same time, the Mumbai-based firm also reduced losses by 31.7% during this period. Atomberg’s revenue from operations rose 31.5% to Rs 848 crore in FY24 from Rs 645 crore in the previous fiscal year, according to its press release. This growth indicates strong performance in its core product segment: fans, which contributed Rs 841 crore to its coffers. Atomberg’s product portfolio includes energy-efficient brushless direct current (BLDC) and smart fans, mixer grinders, and smart locks. It claims to have sold more than 8 million units to date. The non-fan segment, however, earned only Rs 7 crore during FY24. The company expects significant growth in these areas in FY25, driven by positive sales trends in its kitchen and lock products. The company also reported an improvement in its operating results, with operational EBITDA moving from a loss of Rs 49 crore to Rs 22 crore in FY24, narrowing the EBITDA margin from -8% to -3%. Backed by A91 Ventures, Atomberg improved its financials, reducing losses by 31.7% in the last fiscal year. According to the company, losses fell from Rs 202 crore in FY23 to Rs 138 crore in FY24. The difference between operational EBITDA and reported losses was attributed to non-operational expenses, including ESOP grants, management bonuses, and costs related to fundraising activities. In the e-commerce market, Atomberg retained its position as a key seller on major online marketplaces. The company also made substantial investments in research and development (R&D) during the year to introduce new products, including fans and mixers. Founded by Manoj Meena and Sibabrata Das in 2012, Atomberg has raised $130 million to date, including an $86 million Series C funding round led by Temasek and Steadview Capital in May last year.
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