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B2B commerce: ShopKirana’s route to Rs 1,000 cr revenue

The Arc Web

The Arc Web · 1y ago

B2B commerce: ShopKirana’s route to Rs 1,000 cr revenue

ShopKirana, a B2B commerce platform, experienced a 50% increase in gross revenues, from Rs 452 crore to Rs 682 crore, in the past year. The platform helps grocers order goods, manage inventory, and make payments through its app. With operations in 15 cities, ShopKirana aims to reach a topline run rate of Rs 1,000 crore in FY24. It also plans to launch lending for store owners, expand distribution for regional brands, and promote its private food brand, KisanKirana. The company has raised over $55 million in funding to date.

Related News

Zepto crosses Rs 1,000 Cr in annualised advertising revenue: CEO Palicha

YourStory

YourStory · 9m ago

Zepto crosses Rs 1,000 Cr in annualised advertising revenue: CEO Palicha

Zepto, a quick commerce unicorn, has achieved annualized advertising revenue of over Rs 1,000 crore, averaging Rs 83 crore per month. Zepto recently launched Jarvis, an in-house advertising service that has already delivered billions of ad impressions and generated 4% of advertising income as a percentage of sales. The company is focused on diversifying its revenue streams to include advertising, loyalty programs, and private labels. In a recent funding round, Zepto raised $350 million, bringing its total fundraisers for the year to $1.35 billion.

Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each

Entrackr

Entrackr · 1m ago

Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each

Exclusive: Shadowfax to raise Rs 2,000 Cr via IPO; fresh issue and OFS at Rs 1,000 Cr each Logistics startup Shadowfax is set to raise Rs 2,000 crore (around $235 million) through its upcoming IPO, as per its RoC filing. The public offering will include a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 1,000 crore. Logistics startup Shadowfax is set to raise Rs 2,000 crore ($235 million) through its upcoming initial public offering (IPO), according to its filing with the Registrar of Companies (RoC). The IPO will comprise a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 1,000 crore. ICICI Securities, JM Financial, and Morgan Stanley are acting as advisors to the public issue. This development comes after the company recently filed its draft red herring prospectus (DRHP) with SEBI via the confidential route. The Flipkart-backed company has also strengthened its board with the appointment of co-founders Gaurav Jaithlia as whole-time directors. Additionally, in line with regulatory requirements, the company has also appointed Bijou Kurien, Ruchira Shukla, Pirojshaw Sarkari, and Dinkar Gupta as independent directors. Shadowfax is reportedly aiming for a post-issue valuation of Rs 8,500 crore. The company is currently valued at around Rs 5,981 crore (approximately $712 million) following a $16.8 million investment from Mirae Asset and Nokia Growth Partners in the first tranche of its Series F round in February this year. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Bengaluru-based Shadowfax offers last-mile delivery services with a focus on e-commerce and hyperlocal logistics. The company claims to have a network of over 1.25 lakh monthly active delivery partners catering to segments such as grocery, food, and medicine delivery. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. While its FY25 numbers are yet to be filed, the company posted a revenue of Rs 1,885 crore in FY24, marking a 33.2% year-on-year growth. It also managed to narrow its losses by 91% to Rs 11.8 crore in FY24 from Rs 142 crore in FY23. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever.

BharatPe’s revenue crosses Rs 1,000 Cr in FY23

Entrackr

Entrackr · 1y ago

BharatPe’s revenue crosses Rs 1,000 Cr in FY23

Fintech firm BharatPe has achieved over Rs 1,000 crore in revenue in FY23, according to the company's financial statements. In this fiscal year, BharatPe's revenue from operations more than doubled to Rs 1,029 crore, while its non-operating revenue declined by 38% to Rs 139 crore. The company's consolidated revenue reached Rs 1,168 crore, considering non-operating income. BharatPe also reported increased expenses, and its loss after tax in FY23 amounted to Rs 941 crore. However, the company stated that its annualized revenue has surpassed Rs 1,500 crore with a reduced EBITDA burn of Rs 60 crore per month.

BigBasket’s B2B Arm Trims Losses To INR 1,415 Cr In FY24

Inc42 · 11m ago

BigBasket’s B2B Arm Trims Losses To INR 1,415 Cr In FY24

The B2B arm of Quick Commerce major BigBasket reported an operating revenue of INR 10,061 Cr in FY24, a 6% increase compared to the previous fiscal year. Expenses for the B2B arm rose by only 2% YoY, reaching INR 11,515 Cr. Employee-related costs decreased by more than 11%, going from INR 1,060 Cr in FY23 to INR 936.5 Cr in FY24.

B2B unicorn ElastricRun's losses climbs 72% to Rs 618.82 crore in FY23

IndianStartupNews

IndianStartupNews · 1y ago

B2B unicorn ElastricRun's losses climbs 72% to Rs 618.82 crore in FY23

Pune-based B2B e-commerce solutions provider ElasticRun reported a significant increase in net losses for FY23, reaching Rs 618.82 crore, a 72.57% rise from the previous year. Despite this, the company saw a 24.71% growth in revenue from operations, reaching Rs 4,754.86 crore. ElasticRun primarily generates revenue by selling products procured from FMCG brands and also provides logistics and warehousing services. The company plans to expand into private-label FMCG products to increase margins and leverage the projected growth of the Indian B2B e-commerce industry, which is expected to reach $125 billion by 2027.

ShopKirana's gross revenue nears Rs 700 Cr in FY23, losses surge 34%

Entrackr

Entrackr · 1y ago

ShopKirana's gross revenue nears Rs 700 Cr in FY23, losses surge 34%

B2B e-commerce platform ShopKirana experienced a 51% increase in gross merchandise value (GMV) during the last fiscal year, reaching a gross revenue of Rs 682 crore in FY23. The eight-year-old company connects retailers and brands through a mobile app, providing services such as order placement, inventory management, and financial services. However, losses also grew by 33.9% to reach Rs 79 crore in FY23, with a negative ROCE and EBITDA margin. ShopKirana has raised over $55 million in funding and was valued at around $160 million during its latest funding round.

Infibeam posts Rs 742 Cr gross revenue, Rs 27.7 Cr profit in Q1 FY24

Entrackr

Entrackr · 2y ago

Infibeam posts Rs 742 Cr gross revenue, Rs 27.7 Cr profit in Q1 FY24

During Q1 FY24, Infibeam Avenues reported a gross revenue of Rs 742 crore and a profit of Rs 27.7 crore. The company's robust performance was attributed to its digital payment solutions, e-commerce platforms, and technology services. Infibeam's revenue growth reflects its successful efforts in capitalizing on the increasing digital adoption and e-commerce trends in India. However, the net profit of fintech company Infibeam declined by 31.4%to Rs 35 crore in Q1 FY24 from Rs 51 crore in Q4 FY23.

Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%

Entrackr

Entrackr · 1y ago

Zomato posts Rs 175 Cr PAT in Q4 FY24, revenue grows 8.3%

Foodtech and quick commerce platform Zomato on Monday released its financial results for the fourth quarter of the ongoing fiscal year (Q4 FY24). With the steady expansion, the company has witnessed around 27% increase in its profit along with marginal growth in revenue. Zomato’s revenue from operations grew 8.3% to Rs 3,562 crore in Q4 FY24 in contrast to Rs 3,288 crore in Q3 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange. With this, Zomato’s overall revenue for the fiscal year ending March 2024 jumped 71% to Rs 12,114 crore from Rs 7,079 in FY23. Zomato operates several business units including a food marketplace, Hyperpure and quick commerce platform BlinkIt. Income from food and delivery biz accounted for 48.8% in Q4 FY24 which grew 2.1% to Rs 1,739 in Q4 FY24 from Rs Rs 1,704 crore in Q3 FY24. The collections from Hyperpure supplies (B2B) and quick commerce vertical (Blinkit) grew 10.7% and 19.4% to Rs 951 crore and Rs 769 crore, respectively. Earning from “Going-out” and other non-operating income took Zomato Group’s overall revenue to Rs 3,797 crore in Q4 FY24. The cost for delivery and related charges formed 30.7% of the overall expenditure which increased 4.7% to Rs 1,118 crore in Q4 FY24. Its cost of procurement, employee benefits, advertising, and marketing pushed its overall expenditure to Rs 3,636 in Q4FY24 from Rs 3,382 in Q3FY24. The optimum cost mechanism and increased scale helped Zomato to record a 26.8% hike in its profits to Rs 175 in Q4 FY24 from Rs 138 crore in Q3 FY24. On a unit level, the Gurugram-based company spent Rs 1.02 to earn a rupee in Q4 FY24.

Booming quick commerce platforms spot a big surge in ad revenues

Economic Times

Economic Times · 9m ago

Booming quick commerce platforms spot a big surge in ad revenues

Quick-commerce platforms such as Blinkit and Zepto are experiencing a surge in advertising revenue, driven by the rapid growth of their user bases. Blinkit, the market leader, reported a fourfold increase in ad revenue to over Rs 400 crore for the 2023-24 fiscal year, with expectations to earn over Rs 1,000 crore this year. Zepto also anticipates similar revenue figures, as advertising services offer higher profit margins compared to other revenue streams. Quick-commerce firms are achieving ad revenue scale faster than traditional e-commerce marketplaces like Flipkart and Amazon. Advertising revenue is becoming a significant driver of profitability for these platforms.

Shadowfax to file IPO papers under confidential route - The Economic Times

Economic Times

Economic Times · 2m ago

Shadowfax to file IPO papers under confidential route - The Economic Times

Shadowfax, a hyperlocal logistics startup, plans to file for an IPO under a confidential route with Sebi. The IPO aims to raise between Rs 2,000-2,500 crore, with half from fresh shares, potentially valuing the company at Rs 5,500-6,000 crore. The funds will mainly support its quick commerce segment. Shadowfax, offering rapid delivery services, reported operating revenue of Rs 1,885 crore in FY24, marking a 33% growth, and turned operationally profitable.

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