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Bootstrapped Collegedunia hits Rs 200 Cr revenue, eyes 3X growth and IPO in 5 years

EntrackrEntrackr · 9m ago
Bootstrapped Collegedunia hits Rs 200 Cr revenue, eyes 3X growth and IPO in 5 years
Medial

Bootstrapped Collegedunia hits Rs 200 Cr revenue, eyes 3X growth and IPO in 5 years College search platform Collegedunia surpassed the Rs 200 crore revenue mark in 2024. The Gurugram-based company’s growth has been guided by strong collaborations with educational institutions and a focus on delivering useful resources and guidance to students. Over the years, Collegedunia has teamed up with institutions like LPU, IILM, Amity, ICFAI, Parul, and Bennett University offering students access to crucial information and career counseling. After crossing the Rs 200 crore revenue mark, Collegedunia is aiming to triple its revenue over the next five years, with a focus on global expansion, the company’s chief executive Sahil Chalana told Entrackr. "We also have plans to go public upon reaching Rs 600 crore in revenue,” he said. As per startup data intelligence platform TheKredible, Collegedunia reported Rs 192.23 crore in operating revenue in FY24. The company also turned profitable in FY24, with profits nearing Rs 5 crore. For the uninitiated, Collegedunia is a bootstrapped startup founded in 2014. The group also includes 3.14, KickCash, and Prepp, which together offer services aimed at growth in ed-tech and digital marketing. 3.14, a performance-driven ad tech platform, supports brands in enhancing their marketing through data insights and currently counts Amazon, Flipkart, PhonePe, GoJek, and Walmart among its key clients. Prepp, a platform designed to help government exam aspirants in India, has experienced significant growth. Over the past year, Prepp has gained traction among students preparing for exams like UPSC, SSC, and various state-level exams. On the other hand, KickCash is a user acquisition app that rewards users for playing mobile games. It uses AI to suggest games, helping increase user engagement. As mobile gaming grows, KickCash is becoming a key player in rewarded gaming in India. “To reach its Rs 600 crore revenue goal by 2029, the company is focusing on three key areas: expanding operations, advancing technology, and diversifying into new markets,” pointed out Chalana. While large cities have been the primary focus, there is a growing demand for structured education guidance in smaller towns. Collegedunia now aims to reach the tier II and tier III markets by offering content and services designed for them. Meanwhile, the company is working to help international students navigate college admissions and career opportunities globally. Launched in 2021, Collegedunia’s Study Abroad vertical has grown over 120% YoY. Initially focused on major destinations like the USA, UK, and Canada, it now covers more European countries. In 2024–25, it opened centres in Hyderabad, Delhi, Thane, Srinagar, and Kolkata, with more on the way. As per the company, Collegedunia is expanding beyond college search to offer career advice, skill-building, and global education support.

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Zolostays hits Rs 200 Cr revenue in FY24, trims losses

EntrackrEntrackr · 11m ago
Zolostays hits Rs 200 Cr revenue in FY24, trims losses
Medial

Zolostays hits Rs 200 Cr revenue in FY24, trims losses Co-living company Zolostays has achieved a fivefold increase in growth over the last two fiscal years, expanding its revenue from Rs 43 crore in FY22 to more than Rs 200 crore in FY24. Despite this growth, the Nexus Ventures-backed firm maintained control over its losses during this period. Zolostays’ revenue from operations doubled to Rs 204.4 crore in FY24 from Rs 95.5 crore in FY23, as per its consolidated financial statement sourced from the Registrar of Companies (RoC). Zolostays provides co-living spaces to students, professionals, and organizations. Income from residential accommodations and facilities, including service fees and accommodation charges, accounted for 93% of the total operating revenue. This income grew 3.4x to Rs 191 crore in FY24 from Rs 55 crore in FY23. Zolostays also offers services to colleges and universities for managing residential facilities, along with food subscriptions and other amenities. Revenue from this segment dropped 72% to Rs 10.4 crore in FY24. The firm earned Rs 4.6 crore in interest income, bringing its total income to Rs 209 crore in FY24. On the cost front, property management and operational expenses were the largest component, accounting for 52% of total costs. These expenses, which include food, rent, electricity, housekeeping, and consumables, increased 2.3X to Rs 139 crore in FY24 from Rs 60.5 crore in FY23. Its employee benefit expenses increased by 16% to Rs 83 crore in FY24. Legal, advertising, communication, commission, and other overheads took the total cost up by 58% to Rs 266 crore in FY24 from Rs 168 crore in FY23. Zolostays' two-fold growth and controlled expenses led to a 17.4% reduction in losses, down to Rs 57 crore in FY24 from Rs 69 crore in FY23. Its ROCE and EBITDA margin stood at -89.96% and -16.75%, respectively, with an expense-to-revenue ratio of Rs 1.30. In FY24, the Bengaluru-based firm reported current assets of Rs 76 crore, including Rs 34 crore in cash and bank balances. Zolo has raised a total of $118 million of funding to date. According to the startup data intelligence platform TheKredible, Nexus Ventures is the largest external stakeholder with 34% followed by Investcrop and Mirae Asset.

Motilal Oswal pumps Rs 200 Cr into Lahori

EntrackrEntrackr · 8m ago
Motilal Oswal pumps Rs 200 Cr into Lahori
Medial

Beverage brand Lahori is raising Rs 200 crore (approximately $23 million) from Motilal Oswal. The funding came after a hiatus of three years for the Punjab-based company. The board at Lahori has passed a resolution to issue 4,997 Series B preference shares at an issue price of Rs 4,00,252 each to raise Rs 200 crore or $23 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The investment will be used for the growth and expansion of the business, the filing further added. According to Entrackr’s estimates, the company is valued at around Rs 2,800 crore or $329 million post-allotment. The company is reportedly in the process of raising Rs 450 crore in a new round. Following the latest fundraise, Motilal Oswal has acquired a 7.14% stake in the company. Existing investor Verlinvest’s shareholding has been reduced from 21.17% to 19.64%, while Lahori’s founder stake has been diluted from 76.21% to 70.76%. Lahori Zeera has emerged as one of India’s fastest-growing independent beverage companies over the past decade. The brand offers a range of traditional Indian beverage products, including Lahori Zeera, Lahori Nimboo, and Lahori Shikanji. Lahori is yet to file its annual results for FY25. During the fiscal year ended March 2024, its revenue from operations grew 47% year-on-year to Rs 312 crore. Notably, the profits of the company spiked 3X to Rs 22.5 crore in the same period. According to its CEO, Saurabh Munjal, Lahori had a target of Rs 500 crore revenue in FY25.

Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples

EntrackrEntrackr · 2m ago
Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples
Medial

Healthkart’s revenue nears Rs 1,400 Cr in FY25; profit triples HealthKart, a nutrition and supplement e-commerce platform, recorded a 3X year-on-year jump in profit after turning profitable in FY24. The Gurugram-based company’s sharp profit growth was steered by strong sales momentum and a controlled cost structure. Healthkart’s operating revenue grew 29% to Rs 1,313 crore in FY25 from Rs 1,021 crore in FY24, according to its consolidated financial statement sourced from the Registrar of Companies (RoC). HealthKart owns and manufactures eight nutritional brands including popular supplement brands like MuscleBlaze, The Protein Zone, TrueBasics, HKVitals, bGreen, Nouriza, and Gritzo. Sales of products formed 97% of total revenue which rose by 29% to Rs 1,277 crore in FY25. Collections from services also increased by 16% to Rs 36 crore. Notably, non-operating revenue increased to Rs 55 crore in the last fiscal year from Rs 48 crore in FY24. The cost of materials accounted for the largest share of the company’s expenditure at 49%. To the tune of scale, this cost rose 26% to Rs 623 crore in FY25 from Rs 495 crore in FY25. Advertising spend saw a sharper rise of 39% to Rs 263 crore, while commission expenses increased 22% to Rs 82 crore. In contrast, employee benefit costs declined 5% to Rs 115 crore. Overall, Healthkart managed to keep its cost growth below revenue expansion. Its total expenses rose 23% to Rs 1,273 crore in FY25 from Rs 1,032 crore in FY24. The company’s profit surged over 3X to Rs 120 crore in FY25, while its ROCE and EBITDA margin improved to 5.45% and 6.02%, respectively. On a unit basis, Healthkart spent Re 0.97 to earn a rupee of operating revenue in FY25, compared to Rs 1.01 in FY24. As of FY25, its current assets stood at Rs 971 crore including Rs 73 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Healthkart has raised a total of $382 million of funding till date, having Peak XV Partners, Temasek and Sofina as its lead investors. The company’s founder and CEO, Sameer Maheshwari owns 12% of the company.

Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr · 9m ago
Singularity AMC’s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon
Medial

Singularity AMC, a growth equity platform for private and PIPEs, has announced that its second PE fund, Singularity Growth Opportunities Fund II (SGOF II), is oversubscribed at Rs 1800 crore. Launched in August 2023 with a Rs 1,500 crore corpus and a Rs 500 crore green shoe option, the fund saw strong investor interest, securing its first close at Rs 500 crore within a month. It focuses on Energy Transition, next-generation industrials, Consumer, Healthcare, and Financial Services. SGOF II has already backed eight companies, including Lohum, a battery recycling startup; HEG, an energy transition platform such as Sterling & Wilson Data Centre, a data center EPC provider, Sabine, an IVF healthcare company, Classic Legends, the maker of JAWA motorcycles, Qucev, a sustainable EV manufacturer and Deal 7, a luxury watch retailer. Over the next two years, the fund aims to invest Rs 75-175 crore in 12-15 companies. Founded in 2016, Singularity AMC is led by Yash Kela and Mithun Sacheti. The firm manages three funds and has invested in Swiggy, Paytm, Jana Small Finance Bank, and Jawa. Its first fund achieved a 30% IRR and is on track to reach 3x MOIC. The fund follows a structured investment approach, with 40% allocated to late-stage companies, 40% to profitable growth-stage firms, and 20% to high-conviction venture-stage opportunities. Its current portfolio is valued at Rs 492 crore, with a Multiple on Invested Capital (MOIC) of 1.2x.

Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report

EntrackrEntrackr · 3d ago
Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report
Medial

Razorpay begins IPO preparations, eyes Rs 4,500 Cr fresh issue: Report Digital payments unicorn Razorpay has reportedly begun preparations for an initial public offering (IPO) and is looking to raise up to Rs 4,500 crore ($505 million) in fresh capital. According to an Economic Times report, the Bengaluru-based company has invited merchant bankers to pitch for the IPO mandate, with Kotak Mahindra Capital and Axis Capital emerging as key contenders. The IPO is likely to be launched towards the end of the year, though the timeline and issue size are not yet final. The report further added that Razorpay is also in discussions for a pre-IPO funding round, which is likely to be largely secondary in nature. Razorpay was last valued at $7.5 billion in 2021, when it raised $375 million during the peak of the funding cycle. Entrackr has reached out to Razorpay for comments. Razorpay converted itself into a public limited company in April last year, a development earlier reported exclusively by Entrackr. In the same year, the fintech unicorn also completed its reverse flip to India and paid around $150 million in taxes related to the move. In another recent development, the firm acquired a majority stake in POP UPI for $30 million and also secured a cross-border payment aggregator licence from the Reserve Bank of India. Founded by Harshil Mathur and Shashank Kumar, Razorpay has raised over $741 million in funding and counts GIC, Peak XV Partners, Z47 (formerly Matrix Partners India), and Tiger Global among its key investors. On the financial front, Razorpay reported a 65% year-on-year jump in consolidated revenue to Rs 3,783 crore in FY25, led by strong execution across its payment gateway, banking, POS, and international businesses, the company said in a statement. The company’s gross profit rose 41% to Rs 1,277 crore, although it reported a net loss due to ESOP-related expenses of Rs 1,209 crore and one-time costs linked to its redomiciling.

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