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
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
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
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