Fitness focused startup Tagda Raho recorded a 2.3X rise in revenue to Rs 27.6 lakhs in the fiscal year ending 2023 as compared to the previous fiscal year. It saw over Rs 26 lakhs coming in from operations as opposed to the Rs 12. 1 lakhs FY22 generated from operations.
The Bengaluru-based startup raised its maiden round in November last year from cricketeer MS Dhone. The amount raised is yet to be disclosed.
Established by Rishabh Malhotra, Tagda Raho reintroduces traditional Indian strength training equipment and systems to the masses. Its products include adjustable and modular mMudgar equipment with various grip options, designed for people at different fitness levels, from beginners to elite athletes.
The company’s expenditure touched Rs 37.1 lakh in FY23, a 3.7X growth as compared to its previous fiscal’s Rs 10 lakhs. While over Rs 6 lakhs was spent on employee benefits, the company saw depreciation amounting to Rs 5.7 lakhs and materials costing over Rs 4 lakhs.
The three-year-old company’s losses widened 6X to Rs 9.5 lakhs as compared to FY22’s Rs 1.5 lakhs. The same year saw its EBITDA margin and ROCE at -13.78% and -24.21% respectively.