Delhi-based marketplace for plants Urvann registered its top line scaling a massive 8.6X to Rs 4 crore in FY23 as compared to the preceding fiscal year’s close to Rs 48 lakhs revenue generated.
FY23 saw over 99% of the company’s overall revenue coming in from operations.
Founded by Akanksha Gupta and Sambhav Jain, Urvann is hyperlocal marketplace for plants and gardening products connecting plant lovers to nurseries around them and providing free next day delivery of fresh plants.
The company aims to transform the gardening industry by solving its biggest problems- limited availability of gardening products online and the inability to deliver plants fresh and healthy due to long transits.
Currently delivering pan India, the company’s online store provides a range of live plants and gardening tools.
Urvann secured Rs 3 crore in its maiden round held in 2022 and led by Inflection Point Ventures. The round also saw participation from the likes of Hanuman Agro and Shakun Advisors among others.
Post the infusion of the Seed round, the founders were the majority shareholders, while IPV held over 5% company shares.
The B2C online retailer’s expenses for the fiscal year was Rs 5.9 crore, an 8.8X surge from FY22’s Rs 67 lakhs.
The company spent over 21% of the overall expense in advertisement and promotions. Employee benefits took over 7%, while legal and professional charges took more than Rs 2 lakhs.
The 2021 established company’s losses widened lose to 10X touching Rs 1.8 crore. Its current EBITDA margin and ROCE stands at -46.38% and -439.74%. Previously, in FY22, the firm’s losses stood at around Rs 19 lakhs.