AI focused fashion tech startup MirrAr posted a revenue of Rs 3.7 crore in FY23. This was an 8% growth from its preceding fiscal year’s Rs 3 crore. Its revenue from operations contributed over Rs 3 crore to the overall revenue the same year.
The Gurugram based firm helps jewelers sell without having any real physical inventory. It claims to have a client portfolio of over 150 jewelers like Tanishq, Kalyan Jewellers, Senco, and HazooriLal Legacy.
Founded by Meghna Saraogi, this technology helps jewelers across the globe open up their digital stores, increase customer engagement, achieve higher sales all whilst providing a try-on experience for customers.
The virtual reality firm saw a 7% rise to Rs 2.5 crore in its FY23 expenses. While employee benefits cost over 37% of the overall expenses, legal charges and advertising costs came up to 12% and over 9% respectively.
The firm’s expenses previously stood at just above Rs 4 crore in FY22.
The 2015 incorporated startup last secured over Rs 12 crore in an extended Seed round led by Diaspark and Indian Angel Network. The likes of Vineeta Singh, Kaushik Mukherjee, and Khadim Batti also participated in the round.
While the founder Meghna Saraogi held a majority of the company’s shares, over 12% was set aside as the ESOP pool.
Prior to this, it has raked in close to Rs 4 crore in a round led by Survam Partners in 2020.
The firm’s losses remained flat with a mere 1% rise to Rs 55.9 lakhs in the fiscal year ending March 2023. Its current EBITDA and ROCE stand at -18.38% and -7.86% respectively.