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

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. #IppoPay #Fintech #PaymentAggregator #StartupNews #FundingRound #ChennaiStartups #StartupFunding #Entrepreneurship #TechNews #FintechStartups #BusinessInsights #StartupChallenges #TheKredible #News https://thekredible.com/blogs/ippopay-experiences-94-revenue-decline-in-fy24-swings-to-losses

Deepetch Ecozen records 2X rise in scale in FY23, expenses follow Ecozen, a deeptech firm based in Pune, saw its revenue surge to Rs 295.5 crore in FY23, a 2.4X increase from Rs 123 crore in FY22. The firm, known for climate-smart solutions, faced significant expenses, raising overall costs to Rs 289.5 crore. Despite rising losses to Rs 5.7 crore, it secured substantial funding and maintained positive EBITDA and ROCE. #thekredible #Startup #StartupNews #Data #Insights #Ecozen #SustainableTech #EnergyStorage #PuneStartups #GreenTechnology #Investment https://thekredible.com/blogs/deepetch-ecozen-records-2x-rise-in-scale-in-fy23-expenses-follow