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. #CultYvate #Agritech #SatelliteTechnology #DigitalAgriculture #FundingNews #Startups #FinancialGrowth #TechInnovation #AgricultureTechnology #SmartFarming #StartupEcosystem #Agtech #FarmTech #TheKredible https://thekredible.com/blogs/cultyvate-records-2x-hike-in-revenue-in-fy24-losses-shrink

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