Foodtech firm Storia’s top scale witnessed a two fold rise to Rs 113.3 crore in FY23 as compared to the preceding fiscal’s Rs 56 crore.
The same year saw over Rs 113 crore coming in from operations. Previously, it has generated over Rs 55 crore from operations in FY22.
Based out of Mumbai, the food and beverages firm offers a range of sugar-free shakes, latte, smoothies and coconut water, juice, and booster drinks among others.
The eight year old company secured close to Rs 45 crore in its maiden funding round held in late 2021 led by Sixth Sense Ventures.
While Sixth Sense Ventures became the largest shareholder in the company post the round, founder Vishal Shah held over 20%.
As for expenses, employee benefits led the way costing over Rs 22 crore for the fiscal year ending March 2023. Along with the distribution charges and travelling costs, the fiscal’s overall expenses spiked 84% to Rs 140.9 crore as compared to FY22’s Rs 76 crore.
It losses for the year amounted to Rs 27.5 crore, a 34% gap from the preceding fiscal’s Rs 20.5 crore. Its EBITDA and ROCE improved to -24.29% and -902.89% respectively.
It currently competes against the likes of Paperboat, Groovy, and Raw Pressery.