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Logistics firm Prozo records 1.8X growth in scale in FY23, losses spike 3.6X

  • February 8, 2024
  • By Team TheKredible
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Keeping in trend with the company’s consistent growth in the previous fiscal years, logistics and supply chain platform Prozo recorded a 1.8X rise in scale to Rs 129.9 crore in the last fiscal year. Over Rs 128 crore of the total revenue came in from operations.

Established by Ashvini Jakhar, Prozo, a full-stack supply chain startup that enables fulfilment through its pan-India warehousing and freight network, which is powered by an end-to-end supply chain technology stack and control tower. It supports companies of all sizes across B2B, D2C, and B2C segments by offering them enterprise-grade supply chain capabilities on a pay-per-use model.

The 2014 founded company has raised over Rs 141.7 crore through 7 funding rounds. It raised its pre-Series B round early last year and raked in Rs 44.75 crore with existing investor Sixth Sense Ventures leading the round.

Post the infusion of the round, investor Sixth Sense Venture became the company’s largest shareholder while founder Ashvini Jakhar held over 24% shares.

In terms on FY23’s expenses, it saw an almost two-fold rise to Rs 153.8 crore as compared to the preceding fiscal year’s Rs 83 crore. Of the total expenses, employee benefits costs accounted for over 20% of the total expenditure, while transportation and distribution costs took up close to 7%.

The Gurugram-based company incurred losses of Rs 27.1 crore in the fiscal year ending March 2023, a 3.6X spike from FY22. It’s EBITDA margin and ROCE stood at -15.51% and -21.93% respectively.