In a significant improvement, retail tech startup Daalchini has successfully reduced its net loss to INR 9 crore in the fiscal year ended March 31, 2024 (FY24), representing a 32% decline from INR 13.3 crore in FY23. This development marks a notable milestone for the startup, which has been working diligently to optimize its operations and enhance its financial performance.
Retail Tech Startup Daalchini Reports 32% Decline in Net Loss for FY24
Key Financial Highlights:
– Net Loss: Daalchini’s net loss declined by 32% to INR 9 crore in FY24 from INR 13.3 crore in FY23.
– Revenue Growth: The startup has demonstrated impressive revenue growth, with a reported revenue of INR 37.64 crore in FY24.
– Expense Management: Daalchini’s expenses stood at INR 45.53 crore in FY24, indicating a focus on cost optimization and efficient resource allocation.
Business Model and Growth Strategy:
Daalchini’s innovative business model revolves around providing instant, affordable, and healthy food options through IoT-enabled ‘phygital’ vending machines ¹. The startup aims to expand its network to 50+ cities, leveraging its unique tech and supply chain for fresh and packaged food ³. With over 200K monthly active users and a presence in more than 20 cities, Daalchini is poised for significant growth in the retail tech space.
Funding and Investments:
Daalchini has secured a total funding of INR 48.43 crore, with notable investors including Unicorn India Ventures, Artha Venture Fund, and VSS Investco. These investments have enabled the startup to strengthen its tech capabilities, expand its industry footprint, and enhance its customer experience.
Outlook and Future Prospects:
As Daalchini continues to execute its growth strategy, the startup is well-positioned to capitalize on the growing demand for convenient, healthy, and affordable food options. With its innovative business model, robust tech infrastructure, and strong investor backing, Daalchini is poised for significant growth and success in the retail tech space.
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