Two students from IIT Delhi have launched an online platform, ‘Animall’ for buying and selling cattle resulting in an impressive revenue increase. The platform’s revenue was valued at ₹7.4 crore for FY22, and it has now grown to a remarkable ₹565 crore, as reported by Startup Pedia.
As per a LinkedIn post, the Bengaluru-based startup was founded in 2019.
Animall’s founders, Anurag Bisoy, Kirti Jangra, Libin V Babu, and Neetu Y, have created this platform with the aim of uplifting the lives of dairy farmers and making cattle trading and dairy farming a more profitable space to operate in.
Based on financial statements filed with the RoC, the startup experienced a surge in operating scale from FY21 to FY22. Specifically, there was a 148-fold increase, with the operating scale rising from ₹5 lakh in FY21 to ₹7.4 crore in FY22.
This digital platform also offers animal healthcare services.
The company made a 90% of its revenue from cattle trading in FY22. The remaining 10% came from healthcare, artificial insemination, and marketplace commission.
The company also earned a finance income of ₹3.94 crore during FY22, bringing its total collection to ₹11.34 crore. However, the startup incurred a cost of ₹18.04 crore in selling and distribution, which accounted for 32.5% of its total expenditure during FY22. This figure was significantly higher than the ₹9.62 crore spent in FY21.
Animall has been successful in raising around ₹170 crore in funding from prominent investors such as Beenext, Sequoia, Nexus Ventures. The company’s latest round of funding was in Series B, in which it raised $14 million, and was valued at approximately $75 million ( ₹565 crore) as of July 2021.