SaaS based startup Trezi recorded a massive 6.8X growth in its top line in FY23. The number rose to Rs 8.7 crore the same year as compared to FY22’s Rs 1.3 crore.
While a majority of it was contributed by VR design and build, over 22% came in from VR professional services. Trezi’s revenue put in a little more than 7% and other operating income contributed about 1%.
The overall operating revenue stood at more than Rs 8 crore in FY23 as opposed to FY22’s Rs 1 crore of operational revenue.
Delhi headquartered Trezi is a metaverse platform that connects architects, designers and building construction engineers with product manufacturers.
Founded by Tithi G Tewari and Gautam Tewari, it operates on a SaaS model and allows clients to upload architectural models for viewing, editing and remote collaboration in real-time. It additionally leverages the power of immersive tech and metaverse.
Following the rise is revenue, its expenses ballooned almost two fold pushing the company’s expenditure to Rs 10.4 crore.
While over 50% of this was taken up by cost of procurement of materials, about 26% was from employee benefit costs. Legal and professional charges took up about 4% the same year.
Previously in FY22, the firm’s expenses amounted to Rs 5.3 crore.
The decade old company last raked in an extended Series A funding round led by Windrose Capital held this May. The amount is yet to be disclosed.
Post this, YourNest India became its largest shareholder, while founders Tithi G Tewari and Gautam Tewari held over 20% and about 18% respectively.
Last January it raised its Series A round of more than Rs 16 crore from World V and YourNest.
As for losses, the number stooped down to Rs 1.6 crore, an over 60% drop from the preceding fiscal’s Rs 4 crore. Its current EBITDA margin and ROCE stand at -15.03% and -35.57% respectively.