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

EntrackrEntrackr ยท 2m ago
Bootstrapped Collegedunia hits Rs 200 Cr revenue, eyes 3X growth and IPO in 5 years
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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 companyโ€™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 companyโ€™s chief executive Sahil Chalana told Entrackr. "We also have plans to go public upon reaching Rs 600 crore in revenue,โ€ 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. โ€œTo 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,โ€ 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, Collegeduniaโ€™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 2024โ€“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 ยท 5m 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. Zolostaysโ€™ 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 ยท 2m ago
Motilal Oswal pumps Rs 200 Cr into Lahori
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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 Entrackrโ€™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 Verlinvestโ€™s shareholding has been reduced from 21.17% to 19.64%, while Lahoriโ€™s founder stake has been diluted from 76.21% to 70.76%. Lahori Zeera has emerged as one of Indiaโ€™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.

Singularity AMCโ€™s SGOF II oversubscribed at Rs 1800 Cr, eyes final close soon

EntrackrEntrackr ยท 3m ago
Singularity AMCโ€™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.

Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics

EntrackrEntrackr ยท 5m ago
Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics
Medial

Astroyogi surpasses Rs 85 Cr revenue in FY24 with sound economics Astroyogiโ€™s revenue from operations grew to Rs 84.3 crore in FY24 from Rs 66.7 crore in FY23, its annual financial statements sourced from the Registrar of Companies (RoC) show. The online astrology sector has been experiencing rapid growth in recent years, and bootstrapped firm Astroyogi is no exception. The Gurugram-based company reported a 26.3% year-on-year revenue increase in the last fiscal year while maintaining strong unit economics. Astroyogiโ€™s revenue from operations grew to Rs 84.3 crore in FY24 from Rs 66.7 crore in FY23, its annual financial statements sourced from the Registrar of Companies (RoC) show. Astroyogi is a digital astrology consultancy platform that connects users with professional astrologers through its mobile and web apps. In FY24, online consultancy services generated 98.3% of the companyโ€™s total operating revenue, amounting to Rs 82.9 crore. The remaining revenue came from product sales through its YogiStore. Notably, revenue from overseas markets contributed 27.2% of Astroyogiโ€™s total operating revenue. The firm also generated Rs 1.08 crore from interest and investment gains, bringing its overall income to Rs 85.3 crore for the fiscal year ending March 2024. Similar to other online astrology firms, content and astrology fees given to astrologers/cartomancers were the largest cost center for Astroyogi, accounting for 46.5% of the overall expenses. To the tune of scale, this cost increased by 23% to Rs 39.7 crore in the last fiscal year. Its spends and employee benefits shot up by 33% and 29%, respectively, to Rs 24 crore and Rs 12.5 crore in FY24. The overall cost of the company grew by 28% to Rs 85.3 crore in FY24. Despite the growing scale, increased advertising expenses for the bootstrapped firm impacted the company's profits before tax, which fell to Rs 31,000 in FY24, down from Rs 2.1 crore in FY23. On a unit level, it spent Rs 1.01 to earn a rupee during the last fiscal year. The company directly competes with AstroTalk which targets Rs 1,250 crore revenue in FY25 and registered 651 crore revenue with a hefty Rs 100 crore profits in FY24, and InstaAstro, which is in talks to be acquired by Flipkart and posted Rs 25 crore revenue in FY24. The boom in astrology services has seen business models evolve, and that in turn continues to put pressure on firms to get more out of every customer. With the kind of pay per minute models most have gone with, it is only a matter of time before newer, more dedicated offerings emerge. While we are not privy to details, itโ€™s a safe bet to assume that the Pareto principle will be at work in these firms too, with 20% of customers possibly generating 80% of revenues. While that has already meant some star astrologers seeking to build their own followings independently, it could lead to the inevitable fight for โ€˜top-tierโ€™ talent soon. As one of the few categories where profits have flowed quickly, it should be interesting to see how these firms evolve in the coming months and years.

MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24

EntrackrEntrackr ยท 10m ago
MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24
Medial

IPO bound MobiKwik made a strong comeback in the fiscal year ending March 2024, with its revenue surging by over 62%. The fintech firm also achieved profitability during FY24, recovering from an Rs 84 crore loss in FY23. That should do no harm at all to its IPO prospects. MobiKwikโ€™s revenue from operations grew to Rs 875 crore in FY24 from Rs 539 crore in FY23, its consolidated annual financial results sourced from the Registrar of Companies (RoC) shows. Income from the commission on recharge, processing, and interest income on servicing loans, payment gateways, and technologies platforms were the primary sources of revenue for MobiKwik in FY24. In the last fiscal year (FY24), the company expanded its loan offerings through lending partners, resulting in a 3X increase in its lending operational cost to Rs 270 crore as compared to Rs 69 crore in FY23. Its payment gateway also grew 18.4% to Rs 201 crore in FY24. The employee benefits, legal, advertising cum promotional, technology and other overheads pushed the total cost up by 36.4% to Rs 876 crore in FY24 from Rs 642 crore in FY23. See TheKredible for the detailed expense breakup. More than 60% jump in scale and controlled expenditure led MobiKwik to turn black with Rs 14 crore in the last fiscal year as compared to Rs 84 crore loss in FY23. Its ROCE and EBITDA margins improved to 15.21% and 4.16% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY24. In January this year, MobiKwik filed its draft red herring prospectus (DRHP) with the market regulator SEBI to raise Rs 700 crore from its IPO. The firm also reported profitability during the first half of FY24 with Rs 9.5 crore PAT and an operating revenue of Rs 381 crore. This is the second attempt by MobiKwik to go public as the Gurugram-based firm filed its first DRHP in July 2021. However, the firm later abandoned public listing citing weak market conditions. Itโ€™s worth highlighting that the firm is looking to raise less than half of what it aimed at from the previous attempt to go public. After filing DRHP, the company also raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. After being overshadowed by Paytm and its storied investors, MobiKwik has done well to achieve profitability well before Paytm is expected to. The firm has often looked to plough a lonely path, sticking to its core offerings even as peers ventured into multiple segments. Now, it has the benefit of legacy as well as a strong balance sheet to build on, something it seems well prepared for, as the founders remain committed to the firmโ€™s future as well. With an IPO finally in sight, the small debt fund raise can also be seen as a sign of confidence and conviction in going through with the IPO process this time.

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