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/

After Big B’s family office, Hindustan Composites invests in Swiggy Auto ancillary firm Hindustan Composite has acquired a minority stake in Swiggy, investing Rs 5.17 crore for 1,50,000 equity shares. This investment follows Amitabh Bachchan’s family office’s recent minority stake acquisition in Swiggy. Hindustan Composite plans to complete the transaction by November 30, 2024. Swiggy, with a net worth of Rs 9,810 crore as of March 2023, aims to raise up to Rs 3,750 crore through its IPO, alongside an offer for sale of up to Rs 6,664 crore. The company, which filed IPO papers confidentially in May, also introduced a $65 million ESOP liquidity program in July. Swiggy's revenue for FY24's first three quarters was Rs 5,476 crore, with a Rs 1,600 crore loss. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #HindustanComposite #SwiggyAcquisition #SwiggyIPO #InvestmentNews #StartupInvestments #TechInvestments #BengaluruStartups https://entrackr.com/2024/09/after-big-bs-family-office-hindustan-composites-invests-in-swiggy/

Medulance posted a 7% rise in revenue in FY23, profits drop Medulance, a Delhi-based health tech company, reported a 6.9% revenue growth in FY23, reaching Rs 26.21 crore, driven primarily by its ambulance services. Founded by Pranav Bajaj and Ravjot Singh Arora, Medulance operates a fleet of 10,000 ambulances across India and offers services like teleconsultation, e-pharmacy, and elderly care. Despite the revenue increase, expenses rose by nearly 30% to Rs 23.90 crore, leading to a significant drop in profits by over 60%, down to Rs 2.23 crore. The company secured over Rs 25 crore in Series A funding led by Alkemi Growth Capital. Founders Arora and Bajaj each hold over 30% of the company’s shares. #TheKredible #Medulance #HealthTech #DelhiStartup #EmergencyServices #HealthcareInnovation #StartupIndia #HealthTechIndia #EPharmacy #StartupNews #News #IndianStartup https://thekredible.com/blogs/medulance-posted-a-7-rise-in-revenue-in-fy23-profits-drop

Livpure raises $28 Mn from M&G Investments and Ncubate Capital Livpure, a manufacturer of water purifiers and air conditioners, has raised Rs 208 crore ($25 million) from M&G Investments and Rs 25 crore ($3 million) from Ncubate Capital Partners. The funds will be used to expand categories, develop products, and enhance market presence. Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a range of products including water purifiers, air coolers, and kitchen appliances. The company, with over $80 million raised to date, competes with DrinkPrime and traditional players like Eureka Forbes. In FY23, Livpure saw a 35% growth in revenue to Rs 294 crore, with water purifiers contributing over 80% of sales. The company reported a 45% growth in Q1 FY25. #Entrackr #Fintrackr #Startup #StartupNews #IndianStartup #Livpure #StartupFunding #WaterPurifiers #HomeAppliances #ProductDevelopment #VentureCapital #BusinessGrowth #HomeImprovement #Innovation #TechInvestment #AirConditioners https://entrackr.com/2024/08/livpure-raises-28-mn-from-mg-investments-and-ncubate-capital/

Ambrane recorded two fold rise in top scale in FY23 Founded in 2012 by Ashok Rajpal and Sanjay Rajpal, Delhi-based electronics brand Ambrane saw its FY23 revenue soar to Rs 249.96 crore, doubling from Rs 120.75 crore in the previous fiscal year. Ambrane specializes in mobile accessories, audio gadgets, personal care items, and smart devices, with a strong presence in both online and offline markets, including major platforms like Amazon and Flipkart, and retail chains like Croma. Despite this revenue boost, expenses also doubled to Rs 249.13 crore, causing profit to plummet by 77% to Rs 51.41 lakh. Key expenses included material costs, advertising, and employee benefits. #TheKredible #Ambrane #ElectronicsBrand #RevenueSurge #TechStartup #MobileAccessories #SmartDevices #EcommerceSuccess #FinancialPerformance #TechIndustry #IndianMarket #BusinessExpansion #StartupSuccess #ElectronicsIndustry #AmbraneFY23 #StartupNews #News https://thekredible.com/blogs/ambrane-recorded-two-fold-rise-in-top-scale-in-fy23

Paytm reports Rs 1,501.6 Cr revenue and Rs 840 Cr loss in Q1 FY25 In Q1 FY25, Paytm's operational revenue fell 33.8% to Rs 1,501.6 crore, down from Rs 2,267.1 crore in Q4 FY24, and saw a 35.87% year-over-year decline. Total revenue, including interest and gains, was Rs 1,639.1 crore. Expenses dropped 8% to Rs 2,476.4 crore, with significant cuts in employee costs and payment processing expenses. Despite a 52.6% rise in quarterly losses to Rs 840 crore, Paytm remains optimistic, citing growth in its merchant base and transaction values nearing pre-pandemic levels. #Entrackr #Startup #StartupNews #IndianStartup #Paytm #RevenueReport #FinancialResults #BusinessUpdate #Q1FY25 #FintechNews #PaytmReport https://entrackr.com/2024/07/paytm-reports-rs-1501-6-cr-revenue-and-rs-840-cr-loss-in-q1-fy25/

EduGorilla's scale rises 2X in FY23, losses cross Rs 76 lakhs Lucknow-based edtech startup EduGorilla generated Rs 11.15 crore in revenue for FY23, doubling from Rs 5 crore in the previous year. Founded by Rohit Manglik, the company offers AI-powered multi-lingual online test series for competitive exams. Major expenses included advertising (30%) and employee benefits (25%), totaling Rs 12.3 crore. EduGorilla raised Rs 16 crore in 2022, with Pushpa Manglik becoming the largest shareholder. The company saw losses widen to Rs 76.2 lakhs, with a current EBITDA margin of 2.15% and ROCE at -7.66%. #TheKredible #StartupNews #Startup #News #IndianStartup #EduGorilla #EdTech #EduTechStartups #FY23Results #CompetitiveExams #AIinEdTech #StartupJourney #EdTechInnovation #TechInEducation #EdTechTrends #SeedFunding https://thekredible.com/blogs/edugorillas-scale-rises-2x-in-fy23-losses-cross-rs-76-lakhs

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

SoftBank-backed FirstCry, Unicommerce get SEBI approval for IPO FirstCry and Unicommerce, both SoftBank-backed companies, have received final SEBI approval for their IPOs. FirstCry refiled its IPO papers in April after initial concerns from SEBI regarding disclosed metrics. The IPO includes a fresh issue of equity shares up to Rs 1,816 crore and an OFS of up to 54,391,592 shares. FirstCry reported Rs 4,814 crore in revenue and Rs 278 crore in net losses until Q3 FY24. Meanwhile, Unicommerce plans an OFS of up to 2,98,40,486 shares. SEBI's recent approvals include Ola Electric, reflecting a surge of internet companies entering India's stock market. #Entrackr #News #Startup #StartupNews #IndianStartup #FirstCryIPO #UnicommerceIPO #SoftBankBacked #IndianStockMarket https://entrackr.com/2024/07/softbank-backed-firstcry-unicommerce-get-sebi-approval-for-ipo/

Ixigo raises Rs 333 Cr from anchor investors ahead of IPO Le Travenues Technology Limited, the parent company of Ixigo, offered shares worth Rs 333 crore ($40 million) to anchor investors for its IPO. Ixigo's board approved issuing 3,58,11,405 shares at Rs 93 each. Key investors include SBI, HDFC, Morgan Stanley, and others. Ixigo’s IPO runs from June 10-12, 2024, with a price band of Rs 88-93. The company reported Rs 491 crore revenue and Rs 65.7 crore profit in FY24. #Entrackr #Fintrackr #News #Startup #StartupNews #IxigoIPO #TravelTech #AnchorInvestment #LeTravenuesTech #IPO2024 #StartupFunding #StockMarket #IndiaStartups #TataInvestments #TechInvestments https://entrackr.com/2024/06/ixigo-raises-rs-333-cr-from-anchor-investors-ahead-of-ipo/