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Kapiva touches Rs 115 Cr revenue in FY23; improves economics
Entrackr
·
1y ago
Medial
Ayurvedic nutrition brand Kapiva witnessed significant growth in the fiscal year ending March 2023. The company's revenue from operations jumped 93.74% to Rs 114.5 crore compared to the previous fiscal year. Additionally, Kapiva earned Rs 2 crore from interest on current investments, bringing the total revenue for FY23 to Rs 116.48 crore. The company focused on influencer marketing, with marketing costs comprising 35% of total expenditure, reaching Rs 64 crore. Despite the growth, Kapiva's losses increased by 34.1% to Rs 64.5 crore. The brand aims to achieve an annual revenue of Rs 850 crore by FY26.
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Otipy claims to cross Rs 115 Cr in gross revenue in FY23
Entrackr
·
2y ago
Medial
Agritech startup Otipy raised a $32 million Series B round in the beginning of FY23 and it helped the company to grow its gross revenue to the tune of 2X. The company’s founder and chief executive Varun Khurana claimed that Otipy has crossed Rs 115 crore in gross revenue during the last fiscal year
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Kapiva’s Loss Widens By 34% To INR 64.6 Cr In FY23 As Business Expands
Inc42
·
1y ago
Medial
Ayurvedic D2C brand Kapiva reported a 34% increase in losses to INR 64.6 Cr in FY23, despite a 94% rise in operating revenue. Purchases of stock-in-trade contributed to a majority of expenses, growing 55% YoY to INR 42.3 Cr. Employee costs rose by almost 46% to INR 32.8 Cr, while sales and marketing expenses totaled INR 64.3 Cr. The company attributed the increased loss to investments in team and marketing costs to support its growing business. Kapiva has raised $15.77 Mn in funding from investors including Vertex Ventures and Fireside Ventures.
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Adda247 posts Rs 115 Cr revenue in FY23; losses zoom 4X
Entrackr
·
1y ago
Medial
Gurugram-based edtech platform Adda247 recorded a revenue of Rs 115 crore in FY23, marking an 89% increase from the previous year. Despite the positive growth, the company's losses grew four times during the same period. The majority of the revenue came from the sale of online courses, e-books, and test series. Adda247 aims to cover various segments, including K-12, JEE, and GATE, while also targeting profitability by FY25 and considering an IPO in the next two to three years.
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Ergos gross revenue crosses Rs 200 Cr in FY23; losses stagnant
Entrackr
·
1y ago
Medial
Agritech platform Ergos has managed to grow its scale by two-thirds in the fiscal year ending March 2023 with sound economics as the Bengaluru-based company kept losses in check during the period. Ergos’ gross revenue grew 66% to Rs 224 crore in FY23 from Rs 135 crore in FY22, its annual financial statements (FY23) filed with the Registrar of Companies show. Ergos enables farmers to convert their grains into tradable assets, access credit against stored produce, and make better yields. It also provides harvest supply chain solutions by leveraging technology. The sale of commodities to the customer was the primary source of revenue for Ergos contributing to 96% of overall operating income. Wheat turned out to be the largest revenue driver followed by maize, paddy, and others. Rest of the revenue came from warehousing management fees. Visit TheKredible for a detailed revenue breakup. On the expenses side, procurement costs formed 64.8% of the overall expenditure which spiked 65% to Rs 211 crore in FY23. Other costs such as employee benefits, rent, professional, vehicle and traveling costs took its overall expenditure to Rs 249 crore in FY23 from Rs 160 crore in FY22. Head to TheKredible for a complete expense breakup. The decent growth in scale and effective cost mechanism helped Ergos to control its losses which stood at Rs 24 crore in FY23 as compared to Rs 23 crore in FY22. Its ROCE and EBITDA margin stood at -69% and -8.9% respectively. On a unit level, Ergos spent Rs 1.11 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -16% -8.9% Expense/₹ of Op Revenue ₹1.19 ₹1.11 ROCE -44% -69% As of now, Ergos has raised around $32 million across several rounds and was last valued at around $55 million. According to the startup data intelligence platform TheKredible, Aavishkaar Capital is the largest stakeholder with 48% followed by Chiratae Ventures and CDC Group. Currently, its founder and chief executive officer Kishor Kumar Jha commands 11.84% of the company. Operating to provide farmers avenues beyond MSP procurement one assumes, Ergos ses to be on a good pitch to leverage inefficiencies in the supply chain. However, one has to wonder just how far and high the model can take the firm. Perhaps a move into other crops will follow once enough of a network and learnings have been built in.
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Byju’s-owned Great Learning nears Rs 400 Cr revenue in FY23, loses Rs 222 cr
Entrackr
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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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Jar spent Rs 137 Cr to earn Rs 9 Cr in FY23
Entrackr
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1y ago
Medial
Gold savings platform Jar, backed by Tiger Global, showed revenue of Rs 8.7 crore in FY23, up from being in the pre-revenue stage in FY22. However, the company's losses widened to Rs 123 crore. The largest cost center was advertising, which accounted for 49% of the expenditure, surging by 47.8% to Rs 68 crore in FY23. Jar had invested heavily in brand building and hired Bollywood celebrities as brand ambassadors in FY23. The company has raised over $60 million and is valued at around $325 million.
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Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24
Entrackr
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7m ago
Medial
Drishti IAS posts Rs 405 Cr revenue and Rs 90 Cr PAT in FY24 Offline coaching firm Drishti IAS Institute crossed Rs 400 crore of revenue during the previous fiscal year ended in March 2024. The profits for the Vikas Divyakirti-led firm touched Rs 90 crore in the same period. Drishti IAS’s revenue from operations increased by 30.6% year-on-year to Rs 405 crore in FY24 from Rs 310 crore in FY23. The Delhi-based company's revenue rose from Rs 40 crore in FY21 to Rs 119 crore in FY22, and further to Rs 310 crore in FY23. The 26-year-old educational platform mainly provides offline coaching for Civil Services Examination (CSE). Income from coaching services accounted for 94.8% of the total operating revenue, which increased by 37.6% to Rs 384 crore in FY24 from Rs 279 crore in FY23. The remaining income is generated from the sale of study materials, including pen drives, books, test papers, and other resources. Drishti IAS operates seven institutes, including two in Delhi, three in Uttar Pradesh, and one each in Jaipur and Indore. Its Mukherjee Nagar Institute is the largest revenue contributor, accounting for 58% of the total coaching income. Employee benefits and faculty charges constituted 40% of its overall cost, increasing by 41% to Rs 117 crore in FY24 from Rs 83 crore in FY23. Drishti IAS's advertising spending also jumped 3.4X to Rs 51 crore in FY24. Drishti IAS's overall expenditure increased to Rs 289 crore in FY24 from Rs 197 crore in FY23. Higher spending on employee benefits and advertising resulted in a modest 3.4% increase in net profits, which rose to Rs 90 crore in FY24 from Rs 87 crore in FY23. The company's ROCE and EBITDA margin were recorded at 55.7% and 33.73%, respectively, while the expense-to-revenue ratio stood at Re 0.71. As of March 2024, the company's total current assets were valued at Rs 88 crore, with cash and bank balances of Rs 54 crore.
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Power2SME gross revenue crosses 1,000 Cr in FY23; cuts losses
Entrackr
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1y ago
Medial
B2B e-commerce platform Power2SME has demonstrated decent growth with better unit economics as reflected in its top and bottom lines in the fiscal year ending March 2023. While it managed a 50% growth in gross margin in FY23, the company also reduced losses by 9% as it slashed employee benefits among other costs. Power2SME’s gross revenue spiked to Rs 1,056 crore in FY23 from Rs 703 crore in FY22, its consolidated financial statements filed with the Registrar of Companies (RoC) show. Power2SME provides raw materials such as steel, chemicals, inks, paints, metals, polymers along with financial services to SMEs to fulfill their capital needs through its subsidiary entities. Income from the sale of goods contributed 99% of the total gross revenue whereas the rest of the collections came from interest and finance (operating). The company also made Rs 6 crore from interest on current and non-current investments (non-operating) which took its total revenue to Rs 1,063 crore in FY23. For the e-commerce platform, the cost of procurement comprised 93.4% of the total expenditure. Tracking the growth in scale, this cost grew by 49.6% to Rs 1,019 crore in FY23 from Rs 681 crore in FY22. Its employee benefits, insurance, legal/professional, advertising, finance, and other overheads took the overall expenditure to Rs 1,091 crore in FY23 from Rs 740 crore in FY22. View TheKredible for the complete expense breakdown. The decent acceleration and cost control enabled Power2SME to reduce its losses by 9% to Rs 28.5 crore in FY23. Its ROCE and EBITDA margin improved to -10% and -0.6% respectively. On a unit level, it spent Rs 1.03 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin -3% -0.6% Expense/₹ of Op Revenue ₹1.05 ₹1.03 ROCE -24% -10% Power2SME last raised its equity round of $36 million in January 2018 and has raised around $80 million to date. According to startup data intelligence platform TheKredible, Accel is the largest stakeholder with 26.1% followed by Kalaari Capital and Inventus Capital. Its co-founder and CEO Narayan Ramaswamy commands 12.17% of the company at the moment. With its last funding round in 2018, Power2Sme is certainly straining to deliver on its promise, and the current growth momentum should necessitate a round of funding soon. That it hasn’t yet gone for the most obvious growth hack, i.e., lending to its users is interesting, and might just be the next focus area yet. But the significant scale and operating breakeven suggests big things soon at the firm. We are betting you will find yourself back here soon enough to read an important update on the firm.
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BharatPe’s revenue crosses Rs 1,000 Cr in FY23
Entrackr
·
1y ago
Medial
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.
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Info Edge crosses Rs 2,500 Cr revenue and Rs 500 Cr profit threshold in FY24
Entrackr
·
1y ago
Medial
Info Edge, the parent company of Naukri and 99acres, published its financial statements on Thursday. The consolidated figures showcased a modest 8% increase in revenue for FY24. However, the company made a turnaround in its bottom line, transitioning from a loss of Rs 70 crore in FY23 to a profit of Rs 594 crore in FY24. Info Edge’s revenue from operations grew 8% to Rs 2,536 crore in FY24 from Rs 2,345 crore in FY23, its consolidated financial statements disclosed with the stock exchange shows. Meanwhile, the company posted a 4.8% increase in revenue to Rs 657 crore in Q4 FY24 from Rs 627 crore in Q3 FY24. The Sanjeev Bikchandani-led firm operates through different segments. Income from Naukari.com and related portals formed 74.1% of its total revenue which increased 7.49% to Rs 1,880 crore in FY24. Its other segment 99acres saw a 23.6% growth to Rs 351 crore in FY24. Jeevansathi and Shiksha combined participated with Rs 305 crore of revenue during FY24. Info Edge made Rs 414 crore from non-operating activities tallying its total revenue to Rs 2,950 crore in FY24. Akin to other internet companies, its employee benefits accounted for 61% of its total expenditure which grew only 2.83% to Rs 1,128 crore in FY24 from Rs 1,097 crore in FY22. Info Edge’s network/internet, advertising cum promotional, legal, traveling and other overheads push the total expenditure to Rs 1830 crore in FY23 from Rs 1,858 crore in FY23. Note 1: The company recorded exceptional items of Rs 110 crore and Rs 509 crore in FY24 and FY23 respectively due to the decrease in the carrying value of investments. This was the primary reason for the significant loss posted in FY23. Note 2: The company has 15 joint ventures including Makesense, Happily Unmarried’s Ustraa (now acquired by VLCC), Shopkirana, Juno, Sploot and others during FY24. Info Edge recorded a share loss of Rs 131 crore and 231 crore in FY24 and FY23 respectively in its joint ventures which also makes a part of its consolidated figures and reflects losses in the financial statements. At the end, Indo Edge posted a net profit of Rs 594 crore in FY24 where the figures stood at a loss of Rs 70 crore in FY23 (refer note 1 and 2). On a unit level, it spent Rs 0.72 to earn a rupee in FY23.
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