FoodyBuddy turns profitable in FY23 Foodtech platform FoodyBuddy achieved a remarkable 17X revenue increase in FY23, reaching Rs 1.69 crore, up from Rs 9.74 lakh in FY22. Founded in 2015, the Bangalore-based platform connects home chefs with local consumers. It has raised Rs 20.50 crore across five funding rounds, with the latest in December 2020 led by Rebel Foods. Competing with Innerchef and Cookr, FoodyBuddy is valued at Rs 31 crore, with significant stakes held by Rebel Foods and Prime Venture Partners. The company cut expenses from over Rs 4 crore in FY22 to Rs 13 lakh in FY23 and became profitable, recording Rs 1.56 crore in profit after a loss in the previous year. #FoodyBuddy #FoodTech #StartupSuccess #RevenueGrowth #FundingRounds #Entrepreneurship #InnovativeBusiness #HomeChefs #TheKredible #Startup #News #IndianStartup https://thekredible.com/blogs/foodybuddy-turns-profitable-in-fy23

KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24 KreditBee's NBFC arm, Krazybee, saw substantial growth in FY24, nearly doubling revenue and tripling profit. Krazybee's revenue surged to Rs 1,399 crore from Rs 717 crore in FY23, driven by a 2.5X increase in interest income and Rs 169 crore from fees. Total expenses rose 80% to Rs 1,132 crore, with significant jumps in loan amortization and employee costs. Despite rising expenses, controlled expenditure helped Krazybee triple its profit to Rs 200 crore. Its ROCE improved to 10.5%, with an EBITDA margin of 36%. KreditBee, valued at $700 million, plans to shift its domicile to India, potentially paving the way for an IPO. The company has raised $410 million from key investors like Premji Invest and Newquest Capital. #Entrackr #Fintrackr #Startup #StartupNews #IndianStartup #Krazybee #KreditBee #NBFC #RevenueGrowth #ProfitGrowth #FinancialGrowth #FintechIndia #StartupFunding #IndianStartups #FintechNews #BusinessGrowth #IndiaEconomicNews https://entrackr.com/2024/09/exclusive-kreditbees-nbfc-arm-posts-rs-200-cr-profit-in-fy24/

TraceX’s scale rose 79% in FY23, losses widen 3X Bengaluru-based agritech startup TraceX saw a 79% revenue increase in FY23, reaching Rs 1.54 crore, mainly from software subscriptions. FY22's operational revenue was Rs 86 lakhs. Founded by Anil Nadig and Srivatsa T Sreenivasarao, TraceX raised Rs 8 crore in an extended Seed round in 2022. FY23 expenses totaled Rs 6.1 crore, up from Rs 2 crore in FY22. TraceX, leveraging blockchain for the food and agricultural supply chain, recorded a 3X rise in losses to Rs 5 crore. #Agritech #thekredible #Startup #TraceX #RevenueGrowth #FoodSupplyChain #AgricultureInnovation #TechInAgriculture #SeedFunding #TraceXGrowth #FinancialReport #TraceXJourney #AgritechRevolution #TechInAgri #News https://thekredible.com/blogs/tracexs-scale-rose-79-in-fy23-losses-widen-3x

Traya Health Achieves 8X Scale Growth in FY23, Expenses Surge Mumbai-based Traya Health's revenue surged 8.8X to Rs 61.7 crore in FY23. Established in 2019, it offers personalized hair care products. Operational revenue rose to Rs 61 crore from Rs 6 crore. Major expenses included advertising (55%) and materials (15%). Losses increased to Rs 27.8 crore. Recently, it secured Rs 75 crore in Series A funding from Xponentia Capital. #thekredible #TrayaHealth #HairCare #HairLossSolutions #StartupIndia #RevenueGrowth #News #Startup #Data #Insight #XponentiaCapital #SeriesAFunding https://thekredible.com/blogs/traya-health-posted-8x-growth-in-scale-in-fy23-expenses-rise