IPO-bound hospitality firm Oyo reported a Rs 230 crore profit in FY24, a significant turnaround from Rs 1,286 crore losses in FY23. Despite the profit, Oyo’s revenue slightly declined by 1.4% to Rs 5,389 crore compared to the previous fiscal year.
Ola Electric’s Q1 FY25 revenue increased by 2.9% to Rs 1,644 crore, with losses reduced by 16.6% to Rs 347 crore. The company’s revenue primarily came from electric scooter sales. Cost-cutting measures contributed to the improved financials, while Ola maintained a leading 39% market share in the electric two-wheeler sector.
Online travel aggregator Yatra saw a 6.4% revenue decline in Q1 FY25, dropping to Rs 100.8 crore from Rs 107.67 crore in Q4 FY24. Profits plunged 27.5% to Rs 4.4 crore. The company spent heavily on employee benefits and other costs, impacting its overall financial performance.
Ather Energy, the Bengaluru-based electric scooter manufacturer, has joined the unicorn club with a $71 million investment from the National Investment and Infrastructure Fund (NIIF), valuing the company at around $1.3 billion. This comes after raising over $125 million in the past three months, signaling a potential IPO.
True Balance, initially a mobile recharge platform, saw its revenue soar to Rs 667 crore in FY24 after shifting focus to lending in FY21. This marks a 74X growth from FY19’s Rs 8.95 crore, driven by its entry into personal loans and securing its own NBFC license.
CE Info Systems, parent of MapMyIndia, reported a 5.1% revenue decline in Q1 FY25, totaling Rs 101.5 crore compared to Q4 FY24. However, year-on-year income rose 13.5%. The firm is facing legal issues with Ola Electric over data usage, amidst rising operational costs.
Rural fintech startup Jai Kisan has acquired an NBFC license through its strategic acquisition of Kushal Finnovation Capital. This license enabl Jai Kisan to offer customized credit products and co-lend with financial institution supporting over 100,000 rural businesses and facilitating over Rs 6,000 crore in disbursals.
Healthcare startup 4baseCare raised $6 million in a Series A round led by Yali Capital. The funds will enhance product offerings and support expansion across India, Asia, and the Middle East. Founded in 2018, 4baseCare provides precision oncology solutions using genomics, impacting over 10,000 cancer patients in Southeast Asia.
Wealthtech startup Infinyte.Club secured $3.6 million in a funding round led by Elevation Capital, with participation from prominent angel investors like Cred’s Kunal Shah and Meesho’s Vidit Aatrey. Founded in 2023, the Bengaluru-based platform focuses on wealth creation for tech employees, offering private investment opportunities and ESOP liquidity solutions.
E-mobility startup Kazam raised $8 million in a Series A3 funding round led by Vertex Ventures. The funds will enhance Kazam’s technology, expand its market presence, and improve platform offerings. Kazam, co-founded in 2020, builds smart EV charging networks and currently serves over 25,000 charging points across India.
