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Byju's had earlier set the target to become profitable by March 2023. Byju's booked a loss of Rs 4,588 crore for fiscal year ended March 31, 2021, 19 times more than the preceding fiscal.
The company has been growing at over 250% year-on-year on a CAGR basis over the past years. As much as 70% of revenue currently comes from online sales and the balance from offline sales, she informed.
Currently, most of the startup's revenue comes from storage/warehouse fee. But cofounder Prasanna Rao expects the fee from selling grain on its platform should be a bigger revenue model going forward. Commission on sales stood at Rs 40 crore in FY23 and he expects this to cross Rs 100 crore this fiscal.
Healthtech market, Kharge said, was estimated to reach $25 billion by 2025 and double by 2033, while the revenues in the medical devices market in India were projected to reach $6 billion in 2023 with an annual growth rate of 8.5%.
The companies of Sam Altman and former Apple designer Jony Ive are teaming up to develop a device that would succeed the smartphone and deliver the benefits of AI in a new form factor.