Homexchange posts 22% revenue growth in FY24, trims losses Mumbai-based proptech firm Homexchange saw a 22% revenue growth in FY24, reaching Rs 2.65 crore from Rs 2.17 crore in FY23. Established in 2020 by Jesal Sanghvi and Shirish Godbole, Homexchange enables homeowners to upgrade properties by exchanging their current homes for new builds from partnered developers. Supported by a Rs 31.95 crore funding round led by Oberoi Realty in 2022, Homexchange is valued at Rs 40 crore, with Oberoi holding over 30% equity. Despite reducing expenses from over Rs 9 crore to Rs 8.47 crore, the company’s losses fell to Rs 5.81 crore in FY24. The EBITDA margin and ROCE remain in negative territory, but efficiency improvements have slightly narrowed the loss gap. #Homexchange #ProptechIndia #MumbaiRealEstate #PropertyExchange #TheKredible #RealEstateGrowth #StartupFunding #StartupIndia #IndianStartups #RealEstateStartup #News https://thekredible.com/blogs/homexchange-posts-22-revenue-growth-in-fy24-trims-losses

IppoPay experiences 94% revenue decline in FY24, swings to losses Chennai-based fintech startup IppoPay experienced a drastic 94% revenue decline, dropping from Rs 329.77 crore in FY23 to Rs 18.12 crore in FY24. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay functions as a payment aggregator, offering solutions such as QR codes, sound boxes, and lending options. The company has raised Rs 17.33 crore in funding over three rounds, with its latest seed funding in August 2024. Despite a valuation exceeding Rs 90 crore, IppoPay reported losses of Rs 52.40 crore in FY24, down from profits over Rs 100 crore in FY23. Key expenses included employee benefits, advertising, and professional fees, contributing to negative EBITDA and ROCE margins. #IppoPay #Fintech #PaymentAggregator #StartupNews #FundingRound #ChennaiStartups #StartupFunding #Entrepreneurship #TechNews #FintechStartups #BusinessInsights #StartupChallenges #TheKredible #News https://thekredible.com/blogs/ippopay-experiences-94-revenue-decline-in-fy24-swings-to-losses

Ortho Sport witnesses 4X rise in topline in FY23, profits surge Ortho Sport, founded in 2012 by Dr. Manu Bora, experienced a remarkable 4X revenue increase in FY23, soaring to Rs 2.52 crore from Rs 62.21 lakh in FY22. The Gurugram-based orthopedic clinic specializes in advanced treatments such as Arthroscopic Surgery and Joint Presentation. Despite its growth, expenses surged 6X to Rs 1.84 crore, with employee benefits accounting for over 60% of costs. Profits doubled, reaching Rs 49.80 lakh, up from Rs 20 lakh. Ortho Sport remains unfunded, with undisclosed valuation, and its shares are primarily held by Dr. Bora and Sumitra Bora. In May 2024, it partnered with Pristyn Care to establish a Centre of Excellence for sports injury treatment. EBITDA margin and ROCE declined to 26.82% and 85.48%, respectively. #OrthoSport #OrthopedicClinic #HealthcareInnovation #SportsInjury #JointPreservation #InjuryPrevention #HealthcarePartnership #BusinessGrowth #HealthTech #HealthcareExcellence #SportsMedicine #TheKredible #News #Startup https://thekredible.com/blogs/ortho-sport-witnesses-4x-rise-in-topline-in-fy23-profits-surge

IppoPay witnesses 6X rise in topline in FY23, profits surge Chennai-based fintech IppoPay experienced a remarkable 6X revenue growth, reaching ₹329.77 crore in FY23, up from ₹48.25 crore in FY22. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay operates as a payment aggregator, offering solutions like QR codes, sound boxes, and POS systems. The company has raised ₹17.33 crore in funding across three rounds, with its latest seed round in August 2024, and is valued at over ₹90 crore. While revenues soared, expenses also surged 16X to ₹157.38 crore, mainly due to commissions. Profits increased to ₹128.48 crore from ₹28.98 crore in FY22. Despite the growth, the EBITDA margin fell to 53.45%, while ROCE rose to 98.66%. #IppoPay #Fintech #RevenueGrowth #DigitalPayments #FintechIndia #FinancialTechnology #StartupJourney #ChennaiStartups #FinancialServices #BusinessSolutions #TechInnovation #PaymentSolutions #TheKredible #News #Startup #Insights https://thekredible.com/blogs/ippopay-witnesses-6x-rise-in-topline-in-fy23-profits-surge

WishCare’s top line crossed Rs 19 Cr in FY23, profits rise Kolkata-based beauty and wellness brand WishCare saw a remarkable 21X revenue growth in FY23, reaching Rs 19 crore, up from Rs 88 lakhs in FY22. Despite this, expenses surged to Rs 14.7 crore, primarily due to material costs, advertising, and employee benefits. Founded by Ankit and Stuti Kothari, WishCare offers natural, toxin-free skincare products. The company raised Rs 20 crore in its first funding round led by Unilever Ventures, making co-founder Ankit Kothari the majority shareholder. Despite rising expenses, WishCare's profits jumped 9X to Rs 3.11 crore in FY23. The company's current EBITDA and ROCE are 23.29% and 122.55%, respectively. #thekredible #WishCare #KolkataStartup #BeautyAndWellness #NaturalSkincare #StartupSuccess #SkincareBrand #Entrepreneurship #StartupJourney #SkincareIndustry #StartupJourney #Startup #Insights https://thekredible.com/blogs/wishcares-top-line-crossed-rs-19-cr-in-fy23-profits-rise

Lahori posted 5X rise in revenue in FY23, profits surge Punjab-based company Lahori, founded in 2018 by Saurabh Munjal and Nikhil Doda, recorded a revenue of Rs 214.84 crore in FY23, a 5.7x increase from the previous year. Specializing in non-alcoholic beverages like Zeera, Nimboo, Kacha Aam, and Shikanji, Lahori saw 99.523% of its revenue from product sales. Despite a 6x rise in expenses to Rs 202.90 crore, the company achieved a profit of Rs 7.88 crore, a 2.8x increase. In 2022, Lahori raised over Rs 60 crore in Series A funding led by Verlinvest, with key shareholders including Munjal, Bhutna, Doda, and Verlinvest SA. Its EBITDA margin was 14.72%, and ROCE was 5.96%. #thekredible #LahoriBeverages #BusinessGrowth #NonAlcoholicDrinks #StartupSuccess #FinancialGrowth #InvestmentSuccess #IndianStartups #BeverageIndustry #Lahori https://thekredible.com/blogs/lahori-posted-5x-rise-in-revenue-in-fy23-profits-surge

Beyond the Listing Bell: Tracking Key Metrics of Startup Tech Stocks Since the IPO boom of 2021, Indian startups have increasingly opted for public listings, shifting focus from unicorn status. Only two new unicorns emerged in 2024 compared to 47 in 2021, with 26 tech startups raising over Rs 64,000 crore via IPOs since 2021. These IPOs provide financial stability, wealth creation for investors, and inspiration for other startups. Notable IPOs include Paytm, Nykaa, and PolicyBazaar. The trend continues with companies like Ola Electric and FirstCry planning IPOs. Despite challenges, startups emphasize profitability and realistic valuations to attract investors, contributing to India’s economic growth and innovation. #TheKredible #StartupIPO #IndianStartups #IPO2024 #StartupSuccess #StockMarket #TechIPO #TechStocks #InvestmentOpportunities #IPOAnalysis #RevenueGrowth #InvestmentStrategies #IndianEconomy #InvestorInsights #StartupNews https://thekredible.com/blogs/beyond-the-listing-bell-tracking-key-metrics-of-startup-tech-stocks

Edukemy’s scale rose 14% in FY23, losses narrow 70% Edukemy, a Bengaluru-based test prep edtech startup, saw significant improvements in FY23, with revenue growing 14% to Rs 7.6 crore and expenses dropping 44% to Rs 12 crore. Its personalized education platform boosted sales of services to over Rs 7 crore. Founded by Deb Tripathi and Shabbir A Bashir, the company reduced losses by 70% to Rs 4.9 crore. Employee benefits made up 40% of expenses, while depreciation and legal charges contributed 10% and 5% respectively. Edukemy's last funding round raised Rs 15 crore in 2021. #thekredible #StartupNews #Startup #IndianStartup #Edukemy #EdtechStartup #TestPrep #BengaluruStartup #EdtechInnovation #TechInEducation #EdtechNews #EducationTechnology #EducationStartup #EdtechIndia https://thekredible.com/blogs/edukemys-scale-rose-14-in-fy23-losses-narrow-70

e-TRNL recorded Rs 8000 in scale in FY23, losses at Rs 29 lakhs e-TRNL Energy, a battery tech startup founded in 2021, recorded Rs 8000 revenue in FY23 from operations. The company offers advanced battery cells with higher energy density and faster charging capabilities. Competing with Irasus, Brightblu, Oakter, and Ev Plugs, it raised Rs 8 crore in late 2022, with Speciale Invest leading the funding. Founders Apoorv Shaligram and Uttam Sen retained significant stakes. FY23 expenses totaled Rs 28.9 lakhs, resulting in Rs 29.3 lakhs in losses, an EBITDA of -36,037.50%, and an ROCE of -3.98%. #thekredible #EVBatteryTech #ETRNL #BatteryInnovation #StartupSuccess #CleanEnergy #SustainableTech #EVIndustry #EnergyDensity #FasterCharging #TechEntrepreneur #FY23Results https://thekredible.com/blogs/e-trnl-recorded-rs-8000-in-scale-in-fy23-losses-at-rs-29-lakhs

e-TRNL recorded Rs 8000 in scale in FY23, losses at Rs 29 lakhs Founded in 2021, EV battery tech company e-TRNL reported Rs 8000 revenue in FY23, all from operations. Competing with Irasus and others, it raised Rs 8 crore in late 2022, led by Speciale Invest. FY23 expenses were Rs 28.9 lakhs, with similar losses, and an EBITDA of -36,037.50%. #thekredible #EVBatteryTech #ETRNL #BatteryInnovation #StartupSuccess #CleanEnergy #SustainableTech #EVIndustry #EnergyDensity #FasterCharging #TechEntrepreneur #FY23Results https://thekredible.com/blogs/e-trnl-recorded-rs-8000-in-scale-in-fy23-losses-at-rs-29-lakhs