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CityMall reports Rs 534 Cr revenue in FY25; flour, sugar, oil, and ghee form 40%

EntrackrEntrackr · 6d ago
CityMall reports Rs 534 Cr revenue in FY25; flour, sugar, oil, and ghee form 40%
Medial

CityMall recorded a 25% year-on-year growth in the fiscal year ending March 2025, with its revenue crossing Rs 500 crore. However, despite the strong increase in operating scale, the company’s losses remained in FY25. CityMall’s operating revenue increased to Rs 534 crore in the last fiscal year from Rs 427 crore in FY24, according to its standalone financial statement sourced from the Registrar of Companies (RoC). Founded in 2019, CityMall sells lifestyle, grocery, electronics, and other essential products through a network of community resellers across tier II and III cities. The company has shifted from a social commerce approach to a grocery-led model, with an increased focus on private label products. Revenue from product sales contributed nearly 96% of CityMall’s total operating revenue and rose 30% to Rs 512 crore in FY25. The remaining income came from logistics and marketing services. Sales of atta, sugar, oil, and ghee contributed 39% of total product sales for CityMall and stood at Rs 210 crore in FY25. Branded food and beverages followed at Rs 85 crore, while home and personal care products recorded Rs 58 crore. Other staples and miscellaneous products accounted for another Rs 159 crore. CityMall also earned an additional Rs 17 crore from interest on deposits and investments, which pushed its total income to Rs 551 crore in the last fiscal year, compared to Rs 460 crore in FY24. On the expense side, the cost of procurement of products was the largest cost center for CityMall. It formed about 72% of the total expenditure and rose 31% to Rs 510 crore in FY25. Its employee benefit expenses declined 10% to Rs 82 crore and included Rs 16.5 crore of ESOP expenses. Transportation costs remained steady at Rs 56 crore. Meanwhile, other expenses such as rent, cloud and hosting, and provision for obsolete inventory added Rs 65 crore to the total. As a result, CityMall’s overall expenses rose over 15% year-on-year to Rs 710 crore in the previous fiscal. In the end, losses for the Accel-backed firm remained flat Rs 159 crore in FY25, as compared to Rs 156 crore in FY24. The company’s EBITDA margin improved to -30.3% while ROCE worsened to -57.46%. On a unit basis, the company spent Rs 1.33 to earn a rupee of operating revenue in FY25. The Gurugram-based company reported total current assets of Rs 368 crore at the end of March 2025, including Rs 57 crore in cash and bank balance. CityMall has raised over $157 million in funding to date including its most recent $47 million Series D led by Accel, with the participation of Waterbridge Ventures, Elevation Capital, Norwest Capital, Citius, and General Catalyst in September last year.

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Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25

EntrackrEntrackr · 3m ago
Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25
Medial

Ripplr reports Rs 91 Cr loss on Rs 1,164 Cr GMV in FY25 Distribution and supply chain platform Ripplr posted nearly three-fold GMV growth in FY24. However, its growth momentum slowed sharply as it barely achieved double-digit growth in the last fiscal year. Ripplr’s gross revenue grew by 13% to Rs 1,164 crore in FY25 from Rs 1,028 crore in FY24, according to its annual financial statement. For the uninitiated, Ripplr offers a plug-and-play distribution network as a service to digitize and manage brand operations. Goods sales accounted for 92% of Ripplr's total gross revenue, which increased by 14% year-on-year to Rs 1,068 crore in FY25. Income from logistics and warehousing were other revenue drivers for the 3One4 Capital-backed firm. Cost of materials remained the largest expense for the company which formed nearly 81% of total expenditure and rose 14.5% to Rs 1,018 crore in FY25 from Rs 889 crore in FY24. However, its employee benefit expenses declined sharply by 33% to Rs 40 crore in FY25 from Rs 60 crore in FY24. Depreciation, finance costs, and professional fees collectively added another Rs 32.5 crore while other expenses, covering logistics, store operations, and miscellaneous overheads, rose 14.5% to Rs 169.5 crore. Overall, Ripple’s total expenses increased 12% to Rs 1,260 crore in FY25. Ripplr posted a loss of Rs 91 crore in FY25, almost identical to Rs 90 crore it lost in FY24. The firm’s ROCE and EBITDA margin improved slightly to -30% and -5.88% respectively. On a unit level, Ripplr spent Rs 1.08 to earn a rupee of operating revenue in FY25, compared to Rs 1.10 in the previous fiscal. The Bengaluru-based firm recorded cash and bank balances of Rs 63 crore, while current assets rose to Rs 381 crore in FY25. Ripplr is reportedly in discussions to raise Rs 400 crore from SBI and existing investors. Before this, the company raised over $45 million. According to startup data intelligence platform TheKredible, Sojitz Corporation and 3One4 Capital are their notable investors.

CityMall’s GMV soars 2.4X to Rs 352 Cr in FY23; losses grow 10%

EntrackrEntrackr · 1y ago
CityMall’s GMV soars 2.4X to Rs 352 Cr in FY23; losses grow 10%
Medial

Social commerce startup CityMall raised $75 million in its Series C round led by Norwest Ventures just before the start of FY23. The fundraise enabled it to hack 140% growth in its gross revenue in the last fiscal year. CityMall’s revenue from operations surged to Rs 352 crore in the fiscal year ending March 2023 from Rs 144 crore in FY22, its annual financial statement filed with the Registrar of Companies shows. CityMall deals in lifestyle, grocery, and other essentials through a network of community resellers in tier II and III cities. The Gurugram-based firm claims to have around 20,000 resellers, and 200K consumers in eight smaller cities across the state of Haryana. The sale of traded goods formed 94.8% of the total operating revenue for CityMall which increased 2.43X to Rs 334 crore in FY23. Logistics, marketing contracts, brand, and scrap were other revenue drivers of the Elevation Capital backed company. See TheKredible for the detailed revenue breakup. When it comes to cost, procurement of goods was the largest burn accounting for 62% of the firm’s overall expenditure. In line with scale, this cost surged 2.4X to Rs 326 crore in FY23 while its employee benefits saw an increase of 56.4% during the said period. Its rent, advertising cum promotional, transportation, cloud/hosting, contractual manpower, and other overheads took the overall expenditure up by 88.53% to Rs 526 crore in FY23 from Rs 279 crore in FY22. Check TheKredible for the complete expense breakdown. Expenses Breakdown Total ₹ 279 Cr https://thekredible.com/company/citymall/financials View Full Data To access complete data, visithttps://thekredible.com/company/citymall/financials Total ₹ 526 Cr https://thekredible.com/company/citymall/financials View Full Data To access complete data, visithttps://thekredible.com/company/citymall/financials Cost of procurement Cost of procurement Employee benefit Employee benefit Rent Rent Advertising promotional Advertising promotional Cost transportation Cost transportation Cloud and hosting Cloud and hosting Manpower Manpower Others To check complete Expense Breakdown visit thekredible.com View full data Despite a spurt in expenses, CityMall has managed to hold tight control on losses which grew only 10% to Rs 145 crore in FY23 compared to Rs 131 crore in FY22.Its ROCE and EBITDA margin stood at -25% and -35.7% respectively. On a unit level, it spent Rs 1.49 to earn a rupee. FY22-FY23 FY22 FY23 EBITDA Margin -86% -35.7% Expense/₹ of Op Revenue ₹1.94 ₹1.49 ROCE -23% -25% CityMall has raised over $110 million across several rounds and was valued at around $300 million in its last equity funding round. According to the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder with 18.58% followed by Accel Partners and Jungle Ventures. Its co-founders Naisheel Verdhan and Angad Kikla collectively hold 19.23% of the company.

Troovy raises Rs 20 Cr in pre-Series A round led by Fireside Ventures

EntrackrEntrackr · 9m ago
Troovy raises Rs 20 Cr in pre-Series A round led by Fireside Ventures
Medial

Troovy, a kids' nutrition-focused food brand, has raised Rs 20 crore ($2.3 million) in its pre-Series A round led by Fireside Ventures. Other investors include Sharrp Ventures, Spring Marketing Capital, and Veltis Capital. Troovy had previously raised an undisclosed seed round in 2023. With the current funding, it plans to scale product development and distribution. Founded by Aditya Mukherjee and Mansi Baranwal, Troovy offers products such as high-protein chips and puffs, protein instant pasta, protein vermicelli, immunity-boosting sauces and spreads, and multi-millet protein milk mixes. All products are made with natural ingredients, without maida, refined sugar, palm oil, or chemical preservatives and additives. Troovy launched with a chemical-free, nutrition-focused ketchup, developed after over a year of trials. The brand uses protein sources such as dals, makhanas, green peas, and millets, and substitutes artificial additives with natural alternatives like soy flour and rosemary extract. It competes with brands like Slurrp Farm, Timios, and The Mumum Co. in the growing kids’ health food segment.

Mitra bags Rs 11 Cr in pre-Series A round led by Bestvantage Investments

EntrackrEntrackr · 1y ago
Mitra bags Rs 11 Cr in pre-Series A round led by Bestvantage Investments
Medial

FMCG direct-to-consumer startup Mitra has raised Rs 11 crore in its pre-Series A round led by Bestvantage Investments, with participation from a Dubai-based strategic family office headed by Mr. Surya, who contributed Rs 5 crore. This round also saw investment from strategic investors such as Arjun Vaidya ( founder-V3 Ventures & ex-Dr Vaidya), Ashok, Ajay Kumar, ex-COO of Pizza Hut, and Shatrughan supported by strategic mentors and advisors such as Mahesh from Hyderabad. The proceeds will enable Mitra to strengthen its supply chain further, explore export opportunities in European markets, and participate in strategic government tenders, including NAFED and Bharat Aata. It will also focus on expansion starting with its newly established manufacturing unit in Mathura and Gurugram, spanning over 40,000 square feet. Founded in 2022, Mitra focuses on producing a wide range of food products, including flour and oil, through its manufacturing facilities. With the capacity to produce more than 800 tons of flour and 3 lakh ltr of oil each month, this facility marks a significant milestone for the company just a year after its inception. In its first year, Mitra posted Rs 14 crore in sales and the company claims to have built a distribution network of over 300 distributors and over 15,000 retailers, with operations across 14 key locations.

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25

EntrackrEntrackr · 4m ago
Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25
Medial

Innoviti reports Rs 143 Cr revenue and Rs 62 Cr loss in FY25 Innoviti Technologies reported 35% year-on-year revenue growth for the fiscal year ending March 2025. However, its losses remained high at Rs 62 crore, despite an 11% YoY reduction in FY25. The company’s operating revenue increased to Rs 143 crore in FY25 from Rs 106 crore in FY24, according to its financial statement sourced from the Registrar of Companies (RoC). Innoviti provided payment gateway and PoS devices to merchants for processing online and card-based payments. Service fees from these offerings contributed 86% of its revenue, which rose 47% to Rs 123 crore in FY25 from Rs 84 crore in FY24. The remaining 14% came from lease rentals, which stood at Rs 19 crore during the same period. Including other non-operating activities such as treasury gains, its total income rose marginally to Rs 144 crore during FY25. Innoviti’s total expenses grew 15% to Rs 207 crore in FY25 from Rs 180 crore a year ago, largely guided by a sharp increase in subvention and service fees which accounted for 40% of the total cost. This cost surged 88% to Rs 82.5 crore in FY25 from Rs 44 crore in FY24. Employee benefit expenses, however, declined 19% to Rs 43 crore in FY25 from Rs 53 crore in FY24. On the other hand, depreciation costs rose 32% YoY to Rs 33 crore from Rs 25 crore in FY24. Other expenses, sub-contractor charges and overheads added the rest Rs 49 crore. In the end, Innoviti narrowed its net loss by 11% to Rs 62 crore in FY25, against Rs 70 crore in FY24. The company’s EBITDA loss stood at Rs 26 crore with EBITDA margin improving to -18.2% from -32.1%. Its ROCE margin stood at -62.77% in the same period. On the balance sheet front, Innoviti’s total assets remained stable at Rs 128 crore, with current assets of Rs 100 crore in FY25, including Rs 41 crore in cash and bank balances. According to startup data intelligence platform TheKredible, Innoviti has raised a total of $158 million of funding till date, having Bessemer Venture Partners and FMO as its lead investors. The Noida-based company’s founder Rajeev Agrawal owns 10% of the company. Earlier this year, Agrawal said the company aimed to achieve operating profitability within the next two quarters. He also mentioned that IPO planning had begun, with a target to go public within the next 12 months.

CityMall to raise Rs 55 Cr in debt; expands ESOP pool

EntrackrEntrackr · 11m ago
CityMall to raise Rs 55 Cr in debt; expands ESOP pool
Medial

Grocery-focused social e-commerce platform CityMall has raised Rs 55 crore approximately $6.3 million in debt from Trifecta Venture debt fund and Alteria Capital Fund. The board of CityMall has passed a resolution to issue 400 series X NCDs to Trifecta Venture and 1,500 series X1 NCDs to Alterial Capital Fund having face values of Rs 10 lakh and 1 lakh, respectively, to raise the above sum. According to filings, the company will utilize this debt funding for the expansion and growth of the company's business. CityMall's board has expanded its ESOP pool by adding 1,03,300 new options worth Rs 47 crore, increasing the total pool to 3,73,200 options valued at Rs 171 crore. Notably, every 100 ESOP options will be converted into one equity share, a separate resolution shows. CityMall sells lifestyle, grocery, and other essentials through a network of community resellers in tier II and III cities. The company also plans to add new categories such as beauty through this network. The firm has not raised external capital (debt or equity) for the past three years. The firm last raised $75 million in funding led by Norwest Venture Partners in March 2022, where it was valued at $320 million. According to the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder followed by Accel and Jungle Ventures. CityMall’s gross revenue (GMV) increased by 23% from Rs 346 crore in FY23 to Rs 427 crore during FY24. The Angad Kikla and Naisheel Verdhan-led firm reported a loss of Rs 159 crore in the same period. DealShare, one of the early competitors of CityMall, pivoted to a hybrid model in 2023 from a community group buying model. The Tiger Global-backed company also faced a 75% decline in its revenue in FY24.

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25

EntrackrEntrackr · 5m ago
Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25
Medial

Auxilo reports Rs 528 Cr revenue and Rs 112 Cr PAT in FY25 Auxilo’s revenue from operations grew 48.3% to Rs 528 crore in FY25, up from Rs 356 crore in FY24, as per its annual financial statements sourced from the Registrar of Companies. After doubling its revenue in FY24, education-focused non-banking financial company (NBFC) Auxilo has delivered another strong performance in FY25, going past Rs 500 crore in revenue and posting over Rs 100 crore in profit after tax (PAT). The Mumbai-based NBFC provides education loans to students pursuing higher studies in India and abroad. Its offerings cover the complete cost of education, including tuition fees, pre-visa expenses, travel, and other related costs. Interest income formed the bulk of its business, contributing 90.5% of total operating revenue, which grew 49.4% to Rs 478 crore in FY25. Fees, commissions, and other operating income collectively stood at Rs 50 crore during the year. Including other income of Rs 16 crore, Auxilo’s total revenue reached Rs 544 crore in FY25. On the expenditure side, interest costs accounted for 71.5% of total expenses, rising in line with disbursements to Rs 282 crore in FY25. Employee benefits were recorded at Rs 56 crore, while overall costs increased to Rs 394 crore in FY25, compared to Rs 275 crore in FY24. The company’s controlled cost structure supported profitability, leading to a 62.3% jump in PAT to Rs 112 crore in FY25, against Rs 69 crore in FY24. Auxilo’s expense-to-revenue ratio also improved to 0.75 in FY25. Earlier this year, Auxilo raised Rs 50 crore from Motilal Oswal. Since its inception, it has secured over $100 million across equity and debt. The company competes with other well-funded education-financing players such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz.

CityMall hits Rs 450 Cr GMV in FY24 with steady losses

EntrackrEntrackr · 1y ago
CityMall hits Rs 450 Cr GMV in FY24 with steady losses
Medial

CityMall, a social e-commerce platform serving smaller cities and towns, recorded over 23% year-on-year growth for the fiscal year ending March 2024, with its gross revenue exceeding Rs 420 crore. CityMall’s gross revenue (GMV) increased to Rs 427 crore in FY24 from Rs 346.4 crore in FY23, according to its standalone financial statement sourced from the Registrar of Companies (RoC). CityMall sells lifestyle, grocery, and other essentials through a network of community resellers in tier II and III cities. Revenue from product sales accounted for 91.62% of the total operating revenue, which increased by 17.1% to Rs 391.5 crore in FY24. The remaining GMV came from logistics and marketing services, which stood at Rs 35.8 crore. CityMall also made an additional income of Rs 32 crore from interest on deposits and investments that brought its total income to Rs 459 crore in the last fiscal year, compared to Rs 378 crore in FY23. On the expense front, the cost of procurement of products was the largest cost center which rose 20.4% to Rs 390 crore in FY24. CityMall’s employee benefit expenses grew by 7.7% to Rs 91 crore, while transportation costs jumped 45.5% to Rs 56 crore. Overall, the Gurugram-based company’s total expenses increased by 17.7% to Rs 615.2 crore in FY24, compared to Rs 522.7 crore in FY23. In the end, losses for the Accel-backed firm increased by 10% to Rs 159 crore in FY24 from Rs 145 core in FY23. Its ROCE and EBITDA Margins stood at -36.18% and -30.34%, respectively. On a unit basis, the company spent Rs 1.44 to earn a rupee of operating revenue in FY24. The Gurugram-based company reported total current assets of Rs 427 crore at the end of FY24, including Rs 187 crore in cash and bank balance. CityMall has raised over $110 million in funding to date including its $75 million Series C led by Norwest in March 2022. According to the startup data intelligence platform TheKredible Elevation Capital is the largest external stakeholder followed by Accel and Jungle Ventures. DealShare, one of CityMall's closest competitors, saw a 75% decline in gross scale in FY24, while its losses decreased by 66% in the last fiscal.

Peak XV-backed Scapia reports Rs 83 Cr loss on Rs 29 Cr revenue in FY25

EntrackrEntrackr · 2m ago
Peak XV-backed Scapia reports Rs 83 Cr loss on Rs 29 Cr revenue in FY25
Medial

Travel fintech startup Scapia has raised $40 million in a Series B round led by Peak XV shortly after FY25, as investors doubled down on the company’s growth potential. The fundraiser follows over 70% year-on-year growth in scale. However, losses continue to remain a key challenge for the company. Scapia’s operating revenue surged to Rs 29 crore in FY25 from Rs 17 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Service income remained the largest contributor to the company, which accounted for 82.8% of operating revenue. This income increased 60% to Rs 24 crore in FY25. Revenue from convenience fees more than tripled to Rs 3.4 crore, while commission income grew 71.4% to Rs 1.2 crore during the year. On the cost side, employee benefit expenses emerged as the largest cost head, accounting for nearly half of the total cost. This expense jumped 71.8% to Rs 61 crore in FY25 from Rs 35.5 crore in FY24. Advertising expenses declined sharply by 35% to Rs 32 crore in FY25 from Rs 49.5 crore in FY24. Other operating costs, such as lounge service expenses remained flat at Rs 7 crore, while subscription charges rose 17% to Rs 7 crore. Customer support costs increased marginally to Rs 4 crore, and other expenses climbed 21% to Rs 12.5 crore. Overall, Scapia’s total expenses increased 10% to Rs 123.5 crore in FY25 from Rs 112 crore in FY24. With Scapia’s revenue outpacing expense growth, its net loss reduced to Rs 83 crore in FY25 from Rs 88 crore in FY24. Its ROCE and EBITDA margin stood at -22.98% and -322.41%, respectively. On a unit basis, Scapia spent Rs 4.26 to earn a rupee in FY25, an improvement from Rs 6.59 in FY24. The company strengthened its balance sheet during the year, with cash and bank balance worth Rs 305 crore, while its current assets more than doubled to Rs 331 crore. Scapia has raised a total of $72 million of funding to date, having Peak XV Partners, Matrix Partners and Elevation Capital as its lead investors. The company’s founder, Anil Goteti, owns 40% of the company.

GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25

EntrackrEntrackr · 4m ago
GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25
Medial

Fintrackr All Stories GenieMode reports Rs 51 Cr loss on Rs 673 Cr GMV in FY25 GenieMode continued to grow during the fiscal year ending March 2025. The firm crossed the Rs 650 crore gross merchandise value (GMV) milestone, while controlled expenses helped narrow its losses by 35% year-on-year in FY25. The company’s gross revenue grew 21% to Rs 673 crore in FY25 from Rs 556 crore in FY24, its consolidated financial statement sourced from the Registrar of Companies (RoC) shows. GenieMode is a business-to-business cross-border e-commerce marketplace for buyers in furniture, home textile, apparels and accessories. The sale of these goods accounted for 98% of its income, which increased by 20% year-on-year to Rs 657 crore in FY25 from Rs 549 crore in FY24. The company’s largest expense was the cost of materials, which accounted for 75% of the total cost. This expense rose 18% to Rs 551 crore in FY25 from Rs 467 crore in FY24. On the other hand, employee benefit expenses decreased 13% to Rs 69 crore in FY25 from Rs 79 crore in FY24. While legal and professional fees rose 41% to Rs 38 crore, finance costs more than doubled to Rs 14.5 crore. Other expenses added the remaining Rs 51.5 crore, pushing total costs to Rs 731 crore in FY25. In the end, GenieMode managed to cut its loss by 35% to Rs 51 crore in FY25 from Rs 78 crore in FY24. Its ROCE and EBITDA margin stood at -10.76% and -7.58%, respectively. On a unit basis, the company spent Rs 1.09 to earn a rupee of operating revenue in the last fiscal year. On a balance sheet front, the Gurugram-based company recorded total assets of Rs 690.5 crore in FY25 while current assets were Rs 544 crore including Rs 42 crore in cash and bank balances. According to TheKredible, GenieMode has raised $92 million of funding till date, having Info Edge, Tiger Global and Multiples Equity as its lead investors. The company’s co-founders Amit Sharma and Tanuj Gangwani own 39% of the company.

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