Mumbai-based Traya Health posted an enormous surge in its revenue in FY23. Its top scale grew 8.8X to Rs 61.7 crore the same year as compared to its preceding fiscal’s Rs 7 crore.
Its revenue from operations witnessed a similar rise to Rs 61 crore in FY23 from FY22’s Rs 6 crore.
Established in 2019, Traya Health is a personalized care brand addressing hair loss and related issues. It offers customized organic hair care products, including personalized hair fall plans, supplements, and solutions for gut, stress, and PCOS among others.
The platform claims to use authentic ingredients for better results. It has over 1 lakh customers on its site.
The nutrition and fitness brand spent a majority of its expenses on advertisement and promotional costs taking up over 55%. While materials cost over 15%, employee benefits took up close to 10%.
This pushed the overall expenses of the fiscal to Rs 89.5 crore, a 8.4X gap from its preceding fiscal’s Rs 10 crore.
The Altaf Saiyed and Saloni Anand founded firm last secured over Rs 75 crore from Xponentia Capital in its Series A round held recently.
While founders held over 20% shares each post the infusion of the funds raised, Fireside Ventures followed close behind with significant shares in the company.
In early 2022, Traya Health raised its Seed round. The round saw support from the likes of Fireside Ventures, Kae Capital, and Whiteboard Capital among others.
In terms of losses, the firm saw its numbers widening 7.7X to touch Rs 27.8 crore in the fiscal year ending March 2023. Its current EBITDA margin and ROCE stand at -43.43% and -54.78% respectively. It previously incurred losses amounting to Rs 3 crore in FY22.