Neeman’s revenue grew 48% in FY23, losses spike 35% Hyderabad's sustainable footwear startup Neeman’s grew its revenue by 48% to Rs 69.5 crore in FY23, driven largely by fabric sales (55%) and open/close footwear (44%). Founded by Taran Chhabra, the D2C brand utilizes materials like Merino wool and recycled PET. Expenses rose 43% to Rs 103.45 crore, with materials (40%), ads (30%), and transportation (9%) as major costs. Despite revenue growth, losses widened 35% to Rs 34 crore, with EBITDA margin and ROCE at -46.07% and -113.15% respectively. #thekredible #Startup #News #Insights #Neemans #SustainableFootwear #OrganicCotton #RecycledMaterials #FootwearIndustry #EcommerceBusiness #StartupFinance #HyderabadStartups https://thekredible.com/blogs/neemans-revenue-grew-48-in-fy23-losses-spike-35

Newton School Records 14% Scale Increase 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. #thekredible #News #Data #Startup #EdTech #NewtonSchool #CodingTraining #BengaluruStartups #TechEducation #EdTechSuccess #JobOrientedCourses #EducationInnovation #SteadviewCapital #NexusVentures #StartupFunding https://thekredible.com/blogs/newton-school-recorded-14-growth-in-scale-in-fy23

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-revenue-spikes-32-in-fy23-expenses-follow #KandeeFactory #revenue #thekredible #Startupnews

Farmley posted 16% drop in scale in FY23, losses shrink 85% Healthy snacking brand Farmley posted a 16% revenue drop to Rs 170.56 crore in the fiscal year March 2023 as compared to the preceding year’s Rs 204.24 crore. Its revenue from operations, similarly, dwindled 16.7% to Rs 169.8 crore in FY23 from Fy22’s Rs 203.8 crore. Visit- https://thekredible.com/blogs/farmley-posted-16-drop-in-scale-in-fy23-losses-shrink-85 #Farmley #Healthysnacking #TheKredible #revenue

Wellness brand Fitspire grows 3.3X in scale in FY23 Delhi-based fitness brand Fitspire achieved significant growth, with FY23 revenue reaching Rs 3.36 crore, a 3.3X increase from the previous year. Despite losses amounting to Rs 2 crore, the company expanded its product range, focusing on sports nutrition and bodybuilding supplements for all age groups. FY23 expenses soared to Rs 5.6 crore, attributed to high advertising and material costs. Despite fundraising efforts and leadership stakes, the company reported negative EBITDA margin (-65.12%) and ROCE (-50.58%). #TheKredible #News #Startup #Data #Insight #Fitspire #StartupNews https://thekredible.com/blogs/wellness-brand-fitspire-grows-3-3x-in-scale-in-fy23

R for Rabbit records over 10% revenue growth in FY23, expenses rise 1.6X Baby care brand R for Rabbit reported a FY23 revenue of Rs 129 crore, marking a 10% growth from the previous year. Established in 2014, the Ahmedabad-based company offers a range of baby products and raised Rs 40 crore in funding. Despite revenue growth, losses surged from FY22's Rs 42.8 lakhs to Rs 9.9 crore in FY23. Founder Kunal Popat holds over 60% of shares, with Xponentia Capital as a major investor. Expenses, notably in ads and promotions, rose 1.6X to Rs 30 crore. #thekredible #Rabbit #Startups #News #Data #Insight #StartupNews #BabyProducts https://thekredible.com/blogs/r-for-rabbit-records-over-10-revenue-growth-in-fy23-expenses-rise-1-6x

BluSmart raises $24 Mn from existing investors, founders and leadership team BluSmart Mobility, an EV ride-hailing service and charging infrastructure operator, raised $24 million in an equity round with over-subscription from existing investors, founders, and leadership. The company, challenging Ola and Uber, operates over 4,000 EV chargers across 34 hubs in Delhi-NCR and Bengaluru. With plans to scale its fleet to 8,000 EVs, BluSmart reported crossing $50 million in annual revenue run-rate, growing over 100% YoY, despite losses increasing to Rs 65.4 crore in FY22 as per TheKredible. #Entrackr #Fintrackr #BluSmart #Startups #StartupNews #News #thekredible #IndianStartups https://entrackr.com/2023/12/blusmart-raises-24-mn-from-existing-investors-founders-and-leadership-team/

GlobalBees witnesses revenue of Rs 36 Cr, losses hit Rs 30 Cr The company, valued at Rs 8666 crore, earned ₹ 36.26 crore in revenue in FY22, of which 50% came from operations. There was a loss of Rs 30.08 crore and expenses of ₹ 66.31 crore. Employee perks accounted for more than 30% of its annual expenses. Globalbees reported an EBITDA margin of -52.39% and an ROCE of -0.97% for the same financial year. #thekredible #globalbees #startup #news https://thekredible.com/blogs/globalbees-witnesses-revenue-of-rs-36-cr-losses-hit-rs-30-cr

Where does “The Kredible” get all the information from? The Kredible sources its data and documents from the regulator: Registrar of Companies (RoC), company websites and other sources present in public domain. The Kredible has an in-house team for data crunching and analysis to keep the information up to date and accurate. Our experience with regulatory systems across geographies ensures that we get access early, and from markets as far away, but relevant, as Singapore too. #thekredible #data #insight #startup #news https://thekredible.com/

TheKredible - Discover the market intelligently The Kredible is a data platform that crunches critical numbers of Indian startups across domains such as e-commerce, fintech, healthcare, edtech among others. Our goal is to provide company insights and data for anyone to filter noise and evaluate startups solely through numbers. #thekredible #Data #Insight #Startup #News https://thekredible.com/