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R for Rabbit records over 10% revenue growth in FY23, expenses rise 1.6X

  • January 18, 2024
  • By Team TheKredible
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Baby care focused R for Rabbit saw its FY23 revenue amounting to Rs 129 crore, a growth of over 10%. The preceding year saw a revenue of over Rs 85 crore with revenue from operations contributing to most of the total revenue.

Established in 2014 by Kunal Popat, R for Rabbit has raised a total of Rs 40 crore over 2 funding rounds. Its maiden round was held in 2021 and saw Xponentia Capital. Its latest round, pre-Series B was held on March 2022 and was led by Negen Capital.

Based out of Ahmedabad, this baby care company offers a diverse range of baby gear products including baby pram, baby stroller, baby walker, infant car seat, et al. It focuses on developing safe baby products that meet international quality guidelines.

It saw a significant rise of losses from FY22’s Rs 42.8 lakhs to FY23’s Rs 9.9 crore. The same year its EBITDA margins stood at -6.76% and ROCE was -18.45%.

As for expenses, the company spent over Rs 30 crore on ads and promotions and close to Rs 6 crore on employee benefits. Overall expenses of the company increased 1.6X as compared to the previous year’s Rs 85 crore.

Founder Kunal Popat is the largest shareholder of the company with over 60% shares while investor Xponentia Capital holds close to 28% of R for Rabbit.

It competes against the likes of FirstCry, Citta, and Mylo.