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Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25

EntrackrEntrackr · 24d ago
Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25
Medial

Koovers reports Rs 36 Cr loss on Rs 198 Cr revenue in FY25 Koovers, a B2B marketplace for automotive spare parts, reported strong growth in the fiscal year ending March 2025, with operating revenue increasing over 2X due to expansion across its dealer network. The company, acquired by Schaeffler India, continued to scale its operations, but losses more than doubled during the year due to higher costs. Koovers’ operating revenue grew 2.5X to Rs 198 crore in FY25 from Rs 79 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). The Bengaluru-based firm was founded in 2015 by Rajesh Krishna, Sandeep Begur, Kantharaj Urs, Vinayak YB, and S Prem Kumar. It operates as an app-based platform offering car spare parts and accessories. The sale of these products was the sole source of income for the company. The company was acquired by Schaeffler India in 2023 in a 100% buyout. Cost of materials remained the largest cost center for the spare parts company, accounting for 79% of the total cost. This cost surged 2.5X to Rs 186.5 crore in FY25 from Rs 75 crore in FY24. Employee benefit expenses doubled to Rs 22 crore during the year. Transportation costs rose to Rs 8 crore, while marketing expenses stood at Rs 5 crore in FY25. Finance costs increased sharply to Rs 6 crore. Overall, the firm’s expenses surged 145% to Rs 235 crore in FY25 from Rs 96 crore in FY24. With expenses outpacing revenue, the company’s losses more than doubled to Rs 36 crore in FY25 from Rs 17 crore in FY24. Its ROCE and EBITDA margin improved to -13.13% and -56.88% respectively. On a unit basis, Koovers spent Rs 1.19 to earn a rupee of operating revenue in FY25, improving from Rs 1.22 in FY24. Koovers’ current assets stood at Rs 51 crore, while the company held cash and bank balances of Rs 50 lakh at the end of the fiscal year. Koovers competes with the likes of TyrePlex, Boodmo, and Partnr. The 100% acquisition of the firm by Schaeffler was driven by a strong base of dealer networks and possibly sourcing relationships, which explains the faster revenue growth over losses. The fact that Koovers has retained its name is an interesting signal of operational freedom for now.

Ampivo AI acquires 51% stake in Commerce Forever

EntrackrEntrackr · 11m ago
Ampivo AI acquires 51% stake in Commerce Forever
Medial

Ampivo AI acquires 51% stake in Commerce Forever Ampivo AI, a multi-modal AI solutions provider, has acquired a majority stake (51%) in Commerce Forever Solutions. This move aims to grow and strengthen Ampivo AI’s role in the e-commerce space by using its AI technology for real-world B2B applications. Commerce Forever closed the financial year 2024-25 with net sales of Rs. 115 crore. According to Ampivo AI, it will be deploying advanced predictive AI technology in Commerce Forever to enable long-term cost optimization. This move allows it to step into an untapped segment of B2B commerce with the help of Commerce Forever’s established operational infrastructure in the Indian Market. While the leadership role and day-to-day activities remain the same, the focus of the integration will be embedding AI across key business processes, with clearly defined KPIs centred around enhancing cost efficiency. As a part of this stock-based acquisition, Commerce Forever will retain its existing brand identity while integrating into the larger Ampivo Ecosystem. Ampivo AI states that this acquisition opens up new opportunities for it to showcase how its technology can bring about operational efficiency and cost savings across the B2B e-commerce value chain. Commerce Forever provides a background in back-end e-commerce operations, and Ampivo AI provides the technology to automate, forecast, and optimize those operations. The two businesses view this collaboration as a platform for scalable innovation within the e-commerce space. Ampivo is a multi-modal AI solutions provider specializing in conversational AI and predictive insights. The company enables B2B clients to scale efficiently by streamlining and optimizing business processes through intelligent automation. It caters to clients in the healthcare and e-commerce sectors and is now expanding its footprint into the finance industry, leveraging its expertise to drive innovation and efficiency across new verticals.

Jumbotail to acquire SC Ventures incubated Solv India

EntrackrEntrackr · 1y ago
Jumbotail to acquire SC Ventures incubated Solv India
Medial

SC Ventures, the innovation and investment arm of Standard Chartered, has agreed to sell its incubated venture, Solv India, to B2B marketplace Jumbotail. Jumbotail and Solv India, together, will become a multi-category B2B e-commerce platform that supports the diverse commerce and fintech needs of India’s small retailers (kiranas), as well as micro, small, and medium enterprise (MSME) entrepreneurs—helping them compete effectively in the modern age. Brands and manufacturers across categories will benefit from efficient and scalable access to India’s middle-class consumers via these small retailers. The acquisition will enhance Jumbotail’s strengths across the entire food and grocery value chain, while integrating Solv India’s differentiated capabilities in apparel, home furnishings, footwear, and toys. Established in 2015, Jumbotail operates a B2B e-commerce marketplace for food and grocery. It also offers solutions to help kirana entrepreneurs modernize and digitize their stores. In 2019, SC Ventures incubated Solv India to provide a digital commerce and supply chain finance platform for MSMEs. The combined entity will be led by S. Karthik Venkateswaran and Ashish Jhina, Co-Founders of Jumbotail. Gautam Jain will join the board of Jumbotail, representing SC Ventures.

B2B cross border e-com startup BEYOBO raises Rs 6.7 Cr

EntrackrEntrackr · 1y ago
B2B cross border e-com startup BEYOBO raises Rs 6.7 Cr
Medial

B2B cross border e-commerce platform BEYOBO has raised Rs 6.7 crore in its pre Series A2 round that was oversubscribed by 300%. The round has been led by Indian Angel Network and saw participation from International Startup Foundation, SAN Angels along with angels and HNIs. The proceeds will be used to bring more international brands to the Indian market and tech platform upgrade. Founded by Anil Agrawal, BEYOBO is an online marketplace where it acts as a gateway for Indian SMEs who want to import goods from other global markets. It also facilitates foreign brands and sellers who want to expand their reach in the Indian market, both online and offline. The startup’s e-commerce platform claims to have doubled its growth over the last one year. The platform currently sells across several varieties including cosmetics, mobile and accessories, household goods and much more. The order fulfilment is executed by BEYOBO. According to an industry report, the B2B e-commerce market in India surged to a staggering $18.2 billion in 2023, a significant leap from $5.6 billion in 2021.

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