Online makeup and beauty learning platform Airblack recorded a revenue of Rs 9.34 crore with expenses reaching Rs 29 crore in FY23. It saw a slight decrease in losses to Rs 20.14 crores as compared to Rs 20.87 crore it witnessed in FY22.
The Gurugram-based company saw a revenue of over Rs 6 crores and expenses amounting to Rs 26.91 crore in FY22.
Over 40% of the total expense accumulated in FY23 was spent on employee benefit costs and over 20% was spent on advertisement and promotional costs, a similar pattern to its pervious financial year.
Founded in 2019 by Videt Jaiswal, Vaibhav Raj Gupta, and Pulkit Pujara, Airblack is a beauty and make-up learning platform that helps people upskill and become micro-entrepreneurs in the segment. It additionally provides virtual tutorials around makeup and skincare and lets users connect with experts in private groups.
Valued at Rs 190 crore, the platform has raised a total of ₹80.02 Cr in funding over 3 rounds. recently raised Rs 31.90 Cr in its Series B round on December 5th from Michael & Susan Dell Foundation, Elevation Capital, Info Edge, Blume Ventures, among others.
While Elevation Capital holds the maximum shares in the company, co-founder Videt Jaiswal holds close to 19% of the company shares.
It is currently up against the likes of Bengaluru-based Alippo and Vah Vah, and Noida -based Aaft Online.