Founded in 2018, Pune-based Zvolv is driving digital transformation through its intelligent process automation platform. Designed for rapid application development, Zvolv empowers planning, execution, and operations teams with smart tools to accelerate insights, decision-making, and workflow automation all within short implementation timelines.
Zvolv’s revenue grew 55.1% in FY24, reaching Rs 7.6 crore, up from Rs 4.9 crore in FY23. Net losses narrowed to Rs 2.6 crore in FY24 from Rs 3.9 crore in FY23. The EBITDA margin improved significantly to -31.07% in FY24 from -94.63% in FY23, while ROCE improved to -24.47% from -75.98% over the same period.
Total expenses increased to Rs 10.5 crore in FY24 from Rs 9.93 crore in FY23. Employee benefit costs made up 38% of total expenses in FY24, up from 33.8% in FY23. Advertisement expenses dropped to 0.4% from 1.8%, while depreciation costs rose to 5.5% from 3.8% year-over-year.
Zvolv has raised a total of Rs 38.84 crore in funding, with the latest Series A round closing on May 7, 2024. The company’s founder is Hardik Prakash Gandhi, who holds a 14.20% stake. Other major shareholders include JSW Ventures (18.99%) and the ESOP/MSOP pool (11.05%).