Travel tech firm Tripoto posted an over 47% growth in its top scale in FY23 as compared to its preceding fiscal’s Rs 4 crore.
With an approximate 58% growth, the same year saw Rs 6 crore coming in from the sale of services contributing about 95% to the overall revenue.
It previously had generated a revenue close to Rs 3.8 crore and contributed 89% to its total revenue in FY22.
Headquartered in Mumbai, Tripoto is a full-stack platform that brings user-generated travel content, community, and marketplace on one platform.
Founded by Anirudh Gupta and Michael Pargal Lyngdoh, it is an online community for travelers that aims to solve problems covering the entire lifecycle of a travel consumer with user generated content. It looks to scale both the B2C and B2B side of the platform.
Employee benefits took up a major chunk of over 58% of this while advertisement and promotional costs took up a little more than 17% in FY23. The firm’s overall expenses lay flat with a mere 3% rise to Rs 9.65 crore as compared to FY22’s Rs 9.3 crore.
The decade old company last raised its Series B round of Rs 25 crore led by Impressive Idea in early 2019. The round also saw support from the likes of Chiratae Ventures and Lasmer Industries.
Post the round, while the founders Anirudh Gupta and Michael Pargal held an equal share of over 20%, Impressed Idea Limited owned close to 13% of the company’s shares.
A year prior in 2018, it has secured its Series A round of about Rs 2.5 crore led by Chiratae Ventures.
The online platform for travelers saw its losses dropping to Rs 3.4 crore in FY23. This was a 64% drop as compared to FY22’s Rs 9 crore. While EBITDA margin improved to -52.96%, its ROCE saw a slight drop to -67.71%.