Founded in 2020, Hyderabad-based UrbanKisaan is revolutionizing farming through hyper-local urban farms using vertical and hydroponic farming technologies. Leveraging automation and IoT, the company aims to make sustainable farming accessible by producing pesticide-free fruits, vegetables, and farm bowls while reducing water usage by 95% and increasing yield by 30x. Its Speed Breeding Program further enhances crop breeding techniques to meet future food demands.
UrbanKisaan reported a 28.25% revenue growth in FY24, reaching Rs 18.79 crore, up from Rs 14.65 crore in FY23. The company achieved profitability with a net profit of Rs 2.29 crore in FY24, compared to a net loss of Rs 14.44 crore in FY23. The EBITDA margin improved significantly to 18.45% in FY24, a notable turnaround from -91.78% in FY23, while ROCE rose to 40.07% in FY24, up from -409.39% in FY23.
The company’s total expenses declined by 43.2% in FY24 to Rs 16.45 crore, down from Rs 28.96 crore in FY23. Employee benefit costs increased to 27.29% of total expenses in FY24, compared to 20.65% in FY23, reflecting investment in talent. Advertisement costs declined to 1.73% of total expenses in FY24, down from 4.66% in FY23, while depreciation costs rose to 6.85% of total expenses in FY24, up from 2.99% in FY23. Notably, cost of materials accounted for 20% of total expenses in FY24.
UrbanKisaan has raised a total of Rs 11.10 crore across two funding rounds, with its most recent seed round completed in July 2021. The company was co-founded by Vihari Kanukollu, Srinivas Chaganti, Sampath Vinay, and Sairam Reddy Palicherla, who continue to drive its growth in the agritech space.