The firm also earns income through advertisement, subscription contracts, and other services. The firm earned Rs 33.28 crore from interest and gains on financial assets while marketing, gift vouchers, and software services contributed Rs 140.57 crore in total income. The company has secured over Rs 1,490 crore across multiple funding rounds since its inception. The startup data intelligence platform, thekredible mentioned that Network 18 is the largest external stakeholder with around 39 percent of the firm’s share. 

The Mumbai-based startup claims to operate its business with 17 subsidiaries and two joint ventures. The firm provides solutions for booking tickets to events, concerts, and movies. The online platform uses advanced technologies to offer a seamless user experience. The revenue from online ticketing increased by 23.8 percent and stood at Rs 801.57 crore in FY24. This income accounted for 57.4 percent of the total revenue. The live event services contributed Rs 454.72 crore in this financial year. 

BookMyShow posted a 27.6 percent increase in its profit and crossed Rs 108.63 crore in FY24. The employee benefits increased by 24 percent and stood at Rs 170.72 crore in the same duration. The paid revenue share accounted for 43.6 percent of the total expenses in this fiscal year. The production cost also increased by 95 percent to Rs 233.49 crore in FY24. The total expenditure of the firm increased by 40.3 percent and crossed Rs 1,319.98 crore in the same duration.

The company managed to control its losses and saw an increase in profit in FY24. The firm aims to minimize its loss by cost-cutting measures. The startup’s operating cashflows saw a slip of 85.3 percent to Rs 33.54 crore during the period. The EBITDA margin stood at 11.07 percent in this fiscal year while the ROCE was around 15.25 percent in the same duration. BookMyShow faces competition from other booking platforms such as Zomato and Ticketmaster.

Conclusion :

The online ticket booking platform BookMyShow announced a 43.2 percent increase in its revenue from operations to Rs 1,396.86 crore in FY24. This online platform provides solutions for booking tickets to events. Online ticketing and interest income are the firm’s primary sources of revenue. The profit saw a 27.6 percent increase to Rs 108.63 crore in FY24. 

The total expenditure increased by 40.3 percent and crossed Rs 1,319.88 crore in the same duration. Meanwhile, employee benefits also grew by 24 percent to Rs 170.72 crore in this financial year. The startup plans to follow cost-cutting measures and maintain its profitability. 

Niraj Kumar

Niraj Kumar is the Founder and CEO of Scoopearth, bringing over 13 years of experience across diverse domains, including journalism, content marketing, digital marketing, startup mentoring, and business coaching. His extensive background and leadership have made a significant impact in these areas, helping startups grow and succeed in a competitive landscape.

Reach us: niraj@scoopearth.com

Linkedin Profile:  https://www.linkedin.com/in/digitalnirajj/

www.scoopearth.com/

Entrackr mentioned in its report that the firm also earns income through the universities or corporate clients that pay for these services. The company saw a 22 percent decrease in its losses to Rs 52.63 crore in FY24. The overall gross revenue generated was around Rs 58.22 crore. This includes money from interest and gains on financial assets worth Rs 4.91 crore. The company has secured over 6.07 million USD across two funding rounds since its inception, including $876k raised during its series A funding round from Info Edge. The data intelligence platform, tracxn mentioned that the company’s post-money valuation was around $66.6 million in October 2022.

The Delhi-based startup provides coding courses designed to help students master competitive programming and data science along with the interview preparations. The online platform uses advanced technologies to provide the best learning experience. This edtech startup provides users with various computer language courses based on software design and application. The employee benefits increased the total costs by 6.64 percent to Rs 53.61 crore in FY24. The total expenditure of the firm increased by 12.2 percent to Rs 109.2 crore in the same duration.

The startup data intelligence platform, thekredible mentioned that Info Edge invested around $22 million in the firm across three funding rounds. Info Edhe increased its stake to 51 percent in Coding Ninjas with the investment worth $17 million. The legal and professional charges increased by 200 percent to Rs 10 crore in FY24. The promotional and advertising expenses account for 22.4 percent of the total expenditure and saw a 15.5 percent decline to Rs 26.69 crore in the same duration. The EBITDA margin also stood at -72.45 percent while the ROCE was around -337.30 percent. 

Conclusion :

Coding Ninjas announced a 3.4 percent increase in its operational revenue to Rs 53.3 crore in FY24. This online coding and placement offering platform provides computer language courses including Java, Python, etc. These coaching services and interest or gain on financial assets are the firm’s primary sources of revenue.

The profit also decreased by 21.9 percent to Rs 52.63 crore in FY24. The total expenditure of the firm saw a 12.2 percent growth and crossed Rs 109.2 crore in the same duration. The company has raised around $6.07 million across two rounds since its inception. Coding Ninjas faces competition from other programming bootcamp and online coaching platforms such as Kenzie, Thinkful, and more.

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Funding Details

Atlys’s Series B round of $20 million is a major achievement, occurring only a year after its previous funding round of $12 million, led by both Elevation Capital and Peak XV Partners. This ongoing investment cycle underscores investors’ solid belief in Atlys’ ambition and trajectory for growth. The financial resources will be put to use to enhance the company’s expansion strategy both within India and internationally, as well as to explore potential revenue streams connected to forex and insurance initiatives. 

As the company moves forward, it intends to attract elite talent primarily in product, engineering, and marketing to lead its expansion projects. Atlys will concentrate on broadening its range to encompass forex and insurance services, delivering a complete set of travel-related services to its users. 

Meeting the evolving needs of travelers

Atlys has seen remarkable expansion since its launch, with a 20 times growth in the number of users over the past year. The platform has grown its presence in important global markets such as the United States, the Arabian Union Emirate, and the United Kingdom. The growth of this sector is encouraged by the increasing need for efficient and seamless solutions for visa processing, particularly in India where activity in international tourism is growing.

The travel needs of today’s travelers are what Atlys focuses on primarily. The platform seeks to minimize the time and energy needed for visa applications, affording users a precise timeline for visa arrival and significantly speeding up processing timelines. The innovative solution offered by Atlys has found a connection with travelers, especially from Tier 2 and Tier 3 cities in India, which have seen a notable increase in outbound travel. 

The CEO of Atlys, Mohak Nahta said, “Since our last funding round we have grown 20X, we will be using funds from this round to continue our expansion strategy both in India and international markets. This will cross-selling opportunities as part of diversification strategy but our focus continues to be on visa processing. Our core focus remains on meeting the growing needs of travelers, particularly in India, where international tourism is booming.

A significant portion of this growth came from Tier 2 and Tier 3 cities, which contributed to 43 percent of the country’s outbound travel, reflecting a broader shift beyond metro-driven demand. More than 65 percent of growth is organic, no component of payment or cost there. India as a market is booming and we will continue to focus on that.” 

Quotation Source: MoneyControl  

Conclusion

The successful Series B funding round for Atlys proves the effectiveness of its innovative strategy and the rising need for efficient solutions for visa processing. Atlys is poised to maintain its growth and meet the evolving needs of modern travelers. Atlys’ dedication to simplifying the visa application process will undoubtedly be a key factor in shaping the future of international travel. 

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Entrackr mentioned in its report that the firm also earns income through interest and gains on current investment services. The scale saw a 17 percent decrease in FY24. The overall gross revenue generated was around Rs 46.11 crore. This includes money from interest and gains on current investments worth Rs 21.3 crore.

The company has secured over 186 million USD across seven funding rounds since its inception, including $50 million raised during its series D funding round led by Arvon Investments and India Infoline. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 3.15 billion in May 2022. 

The Bengaluru startup develops digital business payment solutions for businesses to provide fully digital current accounts and tools for finance, credit, and accounting. The online platform uses advanced technologies to provide the best customer experience. This fintech startup provides users with various digital business payment solutions.

Open claims to have served over 3.5 million clients and have processed annual transactions of over 35 billion USD. The employee benefits increased the total costs by 60 percent to Rs 117.08 crore in FY24. The total expenditure of the firm decreased by 34.4 percent to Rs 194.65 crore in the same duration. 

The Bengaluru startup posted a 55.4 percent improvement in the cash outflows to Rs 91.7 crore in FY24. The employee benefit decreased by 21.6 percent to Rs 117.08 crore in the same duration. The company controlled its losses by 30 percent to Rs 169.68 Crore this fiscal year by cost-cutting measures.

The employee benefits account for 21 percent of the total expenditure compared to the last year. The EBITDA margin also stood at -264.50 percent, while the ROCE was around -45.61 percent. Open faces competition from other internet-first digital banking services providers such as Tide and Chqbook.

Conclusion :

The SaaS-based fintech startup Open announced a 17 percent decrease in its operational revenue to Rs 24.81 crore in FY24. This digital bank service offering platform provides several fintech solutions including deposit accounts, cash management, and expense management services. These services and interest or gain on current investments are the firm’s primary sources of revenue. The loss also decreased by 29.9 percent to Rs 169.68 crore in FY24.

The total expenditure of the firm saw a 34.4 percent decline and crossed Rs 194.65 crore in the same duration. The startup minimized its loss by 30 percent by reducing operating and employee expenses. The company has secured over 186 million USD across multiple funding rounds to date.

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

The company aims for inorganic expansion, improving its content, and entering the K-12 market segment while merging with community-based education platforms. This will be the third funding round for this startup in the past two years. This edtech startup previously secured 150 million USD in its fresh funding round from GSV Ventures and Westbridge.

After this round, the company reported a 2.5 times increase in its valuation to $2.8 billion. The startup data intelligence platform, the kredible mentioned that WestBridge holds the largest external stake with 2.4 percent followed by GSV ventures with 1.44 percent, and the two co-founders account for the remaining 86.54 percent stake of the company.

Physics Wallah provides an online platform offering coaching services for IIT/JEE, data science, Management, Law, and Technology related fields. The company also has offline educational institutes, schools, colleges, and upskilling programs for students across India. The startup claims to have offered education to over 46 million students through its 112 YouTube channels in five languages. The company reported the app was downloaded 30 million times with 5.5 million paid students. The online teaching platform offered by the start-up uses advanced technology to provide the best learning experience. The edtech firm aims to expand its offline brand presence in multiple cities across India.

The Edtech startup posted a 3.3 times increase in its revenue to Rs 779 crore in FY23. However, the profit saw 90 percent decrease to Rs 8.87 crore in the same duration. The company expects revenue of around Rs 2,000 crore for FY24. The development came just after the edtech startups saw increased investor interest. The data from thekredible mentioned that the startups in this sector have raised around $160 million across 27 deals till now from the start of this year.  The edtech sector posted overall funding of 456 million USD in 2023. Physic Wallah faces competition with other online coaching platforms such as Byjus, GoStudent, and Vedantu.

Conclusion :

Edtech startup Physics Wallah secured 210 million USD in its series B funding round from Hornbill Capital with the participation of GSV, WestBridge, and Lightspeed Venture Partners. The startup plans to use these fresh proceeds to scale its operations, enter into the K-12 segment, expand its network, and increase its customer base.

This will be the third round of investment of this Noida-based startup in the last two years. Before this round, WestBridge was the largest stakeholder of the firm with a 2.4 percent stake while the co-founders accounted for 86.54 percent of the company. Following this round, the startup reported a valuation of $2.8 billion.

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Image Source: Astrotalk  

Vision of Astrotalk

Astrotalk was founded in 2015 by Anmol Jain and Puneet Gupta. Astrotalk has become one of the most prominent online astrology platforms on the internet. The company relies heavily on astrology but emphasizes 21st-century technology seems to have worked well for the firm in terms of marketing. In terms of revenue, Astrotalk’s performance demonstrates a successful business model and expansion plans. The company achieved a net profit level of INR 94 crore in FY24, which is significantly more than ten times than in the previous year, proving the firm’s operational capability and market dominance. 

Revenue Growth

Astrotalk has been experiencing high revenues and it is due to the company’s aggressive growth strategy. The company has expanded its operations in both the domestic and international spheres to accommodate a vast number of customers interested in astrology. International sales contribute to almost 20 % of its Total Sales, signifying its increased presence in the global space.

It brings together about 4.5 million paid sessions monthly with customers who consult with astrologers, where marriage consultation is the most common followed by employment consultations. The number of free sessions that Astrotalk provides stands at approximately 6 million, which proves the platform’s popularity.

Technology based Growth

Astrotalk focuses on the use of technology in improving user experience and optimizing processes. The company uses a revenue-sharing business model more than 10,000 active astrologers in its network. This model not only guarantees the constant earnings of astrologers but also enables Astrotalk’s growth. Pricing varies from INR 10 to INR 200 per minute; this ensures that anyone can use its services. The company has been able to grow aggressively using its best-in-class technologies and products while at the same time constantly managing its fixed costs leading to better Margins. 

Focus on Operational Efficiencies

The expenditure on marketing has also gone up considerably to INR 157 crore in FY24 from INR 74 crore in FY23. Overhead expenses especially those associated with employees have also increased due to increased hiring to cater for its expansion. The company’s ability to easily scale operations without having to worry much about the overheads or fixed costs has been a boon for Astrotalk. The strategy to optimize operational effectiveness at the company in the marketing, product, and service delivery value chains has paid off in terms of margins and profitability. 

Conclusion

Astrotalk has impressive revenue growth in FY24, which could speak volumes about the company’s business model, growth strategies, and the ineffaceable potential of such a business when it comes to leveraging technology. The company doubles its revenue from what it was when it was founded, to INR 651 crore speaks volumes about the newfound fad for online astrology services and Astrotalk’s favorable position.

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

The center launched these schemes to provide startups with financial assistance, mentorship programs, exemption from tax, and infrastructure support. A government spokesperson told Hindustan Times that BHASKAR offers an online platform to centralize, streamline, and enhance collaboration between key stakeholders within the entrepreneurial ecosystem including mentors, investors, service providers, startups, and regulatory bodies. These programs are launched to help startups survive in the competitive environment while scaling up their operations. The platform will help everyone regardless of whether a new entrepreneur is ready to take a first step in this industry or an established startup aiming to scale.

The government is focused on boosting the startup and generating more job creators than job seekers. India now has over 1.64 lakh official startups with over 1 million youths working under them. The initiative aligns with the vision of the government to transform India and make it a global leader in startups and innovation. Earlier this year, the investment firm Pantomath Capital Management also launched a Bharat Value Fund to capitalize on the huge demographic opportunities in the mid-market sector presented by the Indian economy. The fund was focused on helping the companies scale their business while enabling them to achieve their market expansion plans.

Under the BHASKAR scheme, each stakeholder will get a unique BHASKAR ID to enable the platform to facilitate easier interaction, improve searching capability, and allow efficient discovery of relevant partners, hence creating more opportunities. The platform was launched to develop the world’s largest digital registry platform for stakeholders within the startup ecosystem. BHASKAR will provide several features including networking and collaboration. This will reduce the gap between startups, stakeholders, and other investors. The application will provide startups with important information and immediate access to critical tools enabling the startup to make fast decisions and scale efficiently. 

The platform will provide users with a personalized feed for interactions and experiences. With powerful search features to filter and locate relevant resources, opportunities, and collaborators easily, this increases the efficiency of startups. BHASKAR is expected to work as a promoter for India’s global reputation as a hub for innovative ideas and for making cross-border collaborations easily accessible between investors and startups. The online platform will redefine the Indian startup landscape while introducing a more efficient, connected, and collaborative environment for investments and collaboration. 

BHASKAR connects these players in the startup ecosystem together:  Government Bodies, Service providers, Mentors, Investors, startups, and stakeholders. The platform aims to boost and strengthen their partnerships with smoother interactions. Prime Minister, Narendra Modi spoke about promoting India’s entrepreneurship through Startup India programs to create more job opportunities in the country.

He mentioned that while the presence of startups in India was negative in 2014, today India is the third largest ecosystem with 1.25 lakh startups providing jobs to over 12 lakh youths. India has over 110 unicorns at the present with 112 soonicorns. 

DPIIT introduced various schemes to transform and create a seamless environment for Indian startups. Previously, the center also launched the Startup India program to boost innovation and entrepreneurship in India. This Startup India scheme aims to provide tax benefits to Indian entrepreneurs for over five years and create around 5.5 lakh job opportunities for youths in India.

This government startup scheme provided startups with access to funds and mentorship. The Department for Promotion of Industry and Internal Trade has taken various initiatives, and projects to grow the Indian Startup Ecosystem. Following this the government launched BHASKAR intending to expand the Indian startup ecosystem using the centralized digital platform.

The Indian startup ecosystem is predicted to grow in the next few years that’s why the government has been launching different programs to strengthen the startups. The government recently launched a scheme to digitalize and enable all businesses to join Open Network for Digital Commerce and online product selling.

The initiative is taken to help these small enterprises reduce the overall expenses and low commissions in the online marketplace while joining the digital India movement. The subsidiary of NADARD, NABVENTURES also launched an agri fund with an initial corpus of Rs 750 crore to help Indian agriculture startups scale their operations and improve production capability. The fund aims to enhance the agri-produce value chains by enabling the startups to grow in size and create new rural ecosystem linkages & infrastructure.

The program is launched to boost the number of startups and help them launch, scale, and succeed in the competitive market. BHASKAR will help startups unlock their full potential by providing them access to personalized resources and networking opportunities. With the launch of this platform, India’s startup ecosystem will increase rapidly. This application is another step towards creating a supportive environment for startups by ensuring they have the required resources and tools for success. BHASKAR will play an important role in shaping India’s economy and job availability in the future. The platform aims to make it easier to start and scale new businesses.

Conclusion :

The Indian Government announced the launch of a digital platform BHASKAR to strengthen the country’s startup ecosystem. The platform uses advanced technologies to offer personalized feeds and powerful search features to help startups filter relevant partners and collaborators. These schemes plan to support and empower entrepreneurs in running their businesses without any challenges. The startup ecosystem in India is predicted to increase in the next few years this is why the government is trying to launch various new schemes and the investment firms are also making huge investments in the startups to get profit.

The platform is designed to help both new entrepreneurs and established startups overcome challenges and scale their operations in the competitive market. The application provides smoother interactions and collaboration between stakeholders. The government intends to provide financial assistance to the startups generate more job opportunities for youths in India and improve the Indian economy. BHASKAR will provide startups with access to important tools, resources, and networking opportunities.

Scoopearth Team

Hi, This is Scoopearth’s admin profile. Scoopearth is a well-known Digital Media Platform. We share Very Authentic and Meaningful information based on Real facts and Verification related to start-ups, technology, Digital Marketing, Business and Finance.
Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/