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Google-backed edtech startup Adda247 saw strong growth in FY24, with revenue nearly doubling to Rs 243.39 crore from Rs 129.65 crore in the previous year. They also made significant progress on profitability, slashing their net loss by two-thirds to Rs 101 crore, down from Rs 296 crore in FY23.
This development comes when venture capital-backed agriculture technology startups are struggling to scale margins on mainstay business and have pared workforces to cut costs.
Agritech Startups: This development comes when venture capital-backed agriculture technology startups are struggling to scale margins on mainstay business and have pared workforces to cut costs.
Info Edge cofounder Sanjeev Bikhchandani added that a rise in the share prices of portfolio companies such as Policybazaar and Zomato over the 6-12 months period had coincided with the companies bottom line improvements.
Mysore-based BuyEazzy, founded in May 2021 by Rahul Aggarwal and Hariher B, is a beauty and wellness-focused ecommerce platform catering to tier-2 and tier-3 cities. It will use the fresh funds to support expansion, team building and product enhancement efforts.