Bengaluru-based healthcare firm Cora Health registered a 71% drop in scale to Rs 32.2 lakhs in the fiscal year ending March 2023 with operations contributing over Rs 31 lakhs. It had previously recorded a revenue of Rs 1.13 crore in FY22.
Founded by Snigdha Kumar and Shrijit Venkatesh, Cora Health is a D2C marketplace that offers healthy and nutritious food products. It has over 100 brands on its platform across multiple categories such as breakfast essentials, dried fruits, nuts, trails, snacks, beverages etc.
The four-year-old company has raised close to Rs 7 crore over 2 funding rounds. It last raised over Rs 4 crore from Parkem Dyes and Chemicals, Vishnuraj Kunjur, KRS Jamwal, and Ajay Upadhyaya among others in 2021. The company is currently valued at Rs 40 crore.
The company’s expenditure totaled to Rs 2.39 in FY23, a 63% drop as compared to FY22’s Rs 6.6 crore. While employee benefits costs over Rs 1 crore, over Rs 23 lakhs was spent on advertisement and promotional costs.
Cora Health’s losses shrunk 75% to Rs 1.3 crore las fiscal year as compared to FY22’s Rs 5.5 crore. Its EBITDA margin and ROCE stood at -643.48% and -702.55% respectively.