Proptech platform Propsoch registered a revenue of Rs 8.64 lakhs in its first fiscal of revenue generation in FY23. Of this, the company saw over 87%, approximately over Rs 7 lakhs coming in from its operations while the remining was brought in from various other revenue generation streams.
Set up by Ashish Acharya, Propsoch is a tech-enabled platform which provides homebuyers detailed insights based on data analytics and in-house expertise.
Headquartered in Bengaluru, the company raised Rs 76.2 lakhs in its maiden funding round from the likes of Mohit Malhotra, Bhaskar Bhat, Bahubaliraj B Koti and others. It is currently valued at Rs 15.75 crore.
It saw employee benefits and legal and professional chares as some of its major expenses for the fiscal ending March 2023 spending over Rs 9 lakhs and more than Rs 8 lakh on the respective segments. It spent over Rs 5 lakhs of its total expenses, Rs 38.8 lakhs on advertisement and promotional costs the same year.
Propsoch’s losses amounted to Rs 30.15 lakhs in Fy23 with an EBITDA margin of -348.77% and an ROCE of -48.19%.