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Sequoia backed Toddle posted 80% growth in revenue in FY23

  • May 21, 2024
  • By Team TheKredible
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Bengaluru based firm Toddle witnessed its revenue growing 80% to Rs 34.4 crore in FY23. A stark rise as compared to its preceding fiscal’s Rs 19 crore.

Its operating revenue also saw a similar rise to Rs 32 crore, a 72% upgrade from FY22’s Rs 18 crore.

The startup founded by Deepanshu Arora, Nikhil Poonawala, and Parita Parekh is an online platform that enables educators to create interactive lesson plans for early childhood education.

The platform offers tools and resources to streamline teaching processes, facilitate teacher-parent collaboration, and support children’s learning and development. The firm claims to be used by teachers at over 1000 schools around the globe.

The edtech’s expenses for the fiscal year ending March 2023 rose two-fold to Rs 75 crore. While employee benefits contributed a majority of it, legal and professional charges put in more than 24% while traveling costs took up close to 4%.

The preceding fiscal had seen expenses coming up to Rs 38 crore.

The SaaS based platform last secured an investment of over Rs 140 crore in late 2022 from Sequoia Capital. Post this, while Matrix Partners held over 19% of its shares, founders Deepanshu Arora and Parita Parekh held equal shares.

Earlier the same year, it had raised close to Rs 19 crore in its pre-Series A round led by Matrix Partners India.

The five year old Toddle incurred losses amounting to Rs 40.8 crore in FY23, an over two fold rise from FY22’s Rs 19 crore. While its EBITDA dropped to -112.20% and its ROCE improved to -37.37%.