CultYvate records 2X hike in revenue in FY24, losses shrink

CultYvate, an Agritech company founded in 2016 by Mallesh T.M. and Bhavana M., doubled its revenue in FY24, reaching Rs 3.24 crore from Rs 1.31 crore in FY23. Specializing in precision farming, CultYvate’s platform integrates IoT, AI, and satellite technology to automate field operations. Based in Bangalore, the company has raised Rs 5 crore across two funding rounds, including a pre-Series A led by SiriusOne Capital in 2022, bringing its valuation to over Rs 12 crore. Key shareholders include Mallesh T.M. with over 40%, Bhavana Mallesh, and SiriusOne Capital. In FY24, expenses rose to Rs 4.09 crore, and losses reduced to Rs 89.08 lakh, reflecting improved EBITDA and ROCE margins at -18.88% and -22.32%, respectively.

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https://thekredible.com/blogs/....cultyvate-records-2x

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.

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https://thekredible.com/blogs/....ippopay-experiences-

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-8

Newton School's Scale Grows 14% in FY23

Edtech startup Newton School grew 14% in FY23, reaching Rs 24.4 crore in revenue, with 69% from operations. The Bengaluru-based online coding platform's expenses soared to Rs 107 crore, driven by employee benefits, advertising, and legal costs. Losses increased over fourfold to Rs 82.6 crore. The firm raised Rs 190 crore in Series B funding, led by Steadview Capital.

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https://thekredible.com/blogs/....newton-school-record

Kandee Factory’s revenue spikes 32% in FY23
Chennai- based confectionary brand Kandee Factory witnessed an over 32% spike in its revenue in FY23 with operations contributing over Rs 2.7 crore of the total revenue. In FY22 the company’s overall revenue stood at around Rs 2.2 crore with the entirety of the amount coming in from operations. Visit - https://thekredible.com/blogs/....kandee-factorys-reve
#kandeefactory #revenue #thekredible #startupnews