Go Back

Eat Better records 8X rise in scale in FY23, losses follow

  • May 15, 2024
  • By Team TheKredible
Share this article

Jaipur based D2C startup Eat Better’s top scale saw a massive 8X surge to touch Rs 5.5 crore in FY23 as compared to its preceding fiscal’s Rs 69 lakhs.

Its generated over Rs 5 crore from operations the same year, a similar rise from FY22’s Rs 67 lakhs.

Eat Better combines age-old food practices with modern day nutritional needs to produce healthy and organic snacks. It offers dry fruits like hazelnut and chocolate, orange and cacao, peanut and chocolate etc. It also offers vegan and gluten free snacks.

The Vidushi Kajaria and Shaurya Kanoria founded brand claims to make products free of chemicals and artificial flavors. While these products are primarily available on the website, it is also accessible on Amazon.

The four year old firm’s expenses for the fiscal year ending March 2023 amounted to Rs 6.7 crore, a 5.4X growth from FY22’s Rs 1.2 crore. While the 41% taken up by cost of materials contributed to most of it, over 23% spend on employee benefits also added to the rise. It spent close to 11% of the total expenses on advertisement and promotional costs.

The food and beverages company last secured over Rs 5 crore in an extended Seed round led by JavaCapital and Mumbai Angels.

Post this, its largest shareholders were Shaurya Kanoria and Mridula Kanoria. Pulkit Kanoria and Angel List Trust followed with over 13% and more than 3% each respectively.

In 2021, the firm had raised its Seed round led by GetVantage. The amount raised is yet to be disclosed.

The firm’s current valuation is Rs 27.75 crore.

As for losses, its gap widened 2X to Rs 1.18 crore inf FY23 from FY22’s Rs 56 lakhs. Its current EBITDA margin stands at -19.52%, while the ROCE is at -29.22%.