eFeed reports 10x growth in monthly revenue in 2023 and aims to reach INR 100 crores annual revenue in FY 2025

eFeed, a precision animal management & nutrition company, has announced that it has raised INR 1 crore from Revenue Based Financing company, Klub and has had an impressive 10x financial growth in 2023 by selling their innovative life cycle based nutrition products. The company targets INR 100 crores in annual revenue in the financial year 2025.

Kumar Ranjan, Founder of eFeed, commented on the company's achievements, stating, "This past year has been a testament to our commitment to sustainable growth and making a positive difference in farmers' lives. We've seen exponential growth, scaling our revenue from Rs 10 lakh per month in January to 1 crore per month in 2023. Our focus on profitability and sustainable scaling has been key to our success."

Key milestones achieved by eFeed in 2023 include:

1. 10x growth in monthly revenue:

eFeed has experienced remarkable growth, expanding its revenue tenfold within a year. Despite the competitive market of selling nutrition products, the company has maintained profitability while consistently scaling its business operations by being an internet first company through which it has built a high rate of digital farmer acquisition. Also by having a digital nutrition formulation, eFeed has been able to reach the farmers directly which has proved to be a very strong competitive moat for the company when compared to conventional and/or legacy players in the market. 

2. 30% repeat users:

The company's dedication to improving farmers' lives has resulted in tangible impacts on agricultural communities. Through investments in building an ecosystem and providing innovative products, eFeed has contributed to enhancing milk yield and, consequently, farmers' income. Notably, eFeed's products have led to a 30% increase in milk output for at least 40% of farmers in their database, positively impacting livelihoods. The repeat purchase of the company ranges between 20 to 30% owing to its consistency. 

3. Climate Impact:

Addressing environmental concerns, eFeed has integrated AI technology to mitigate methane emissions from livestock. By leveraging data collected from farmers using their products, eFeed's AI predicts methane emissions per animal, empowering farmers to reduce environmental impact. The company aims to incentivise emission reduction through carbon markets, aligning business objectives with environmental sustainability.

Ishita Verma, Chief Operating Officer of Klub, praised eFeed's accomplishments and highlighted Klub's role in accelerating their growth in India, stating, "The Indian agritech sector is set to address the $34 billion market by 2027. eFeed's dedication to innovation and sustainability aligns perfectly with Klub's mission to support impactful ventures. We're proud to partner with eFeed in their journey towards profitability and sustainable growth, driving positive change in the agriculture sector."

With a strong focus on profitability and sustainable scaling, eFeed aims to further expand its reach and impact in the coming year. Currently, the company has a strong market hold in Uttar Pradesh, Bihar and Madhya Pradesh with Maharashtra’s market booming for them. Currently, eFeed has 1 lakh farmers in its ecosystem and aims to reach 10 lakh farmers in 2024. The company is currently operating at a 25% blended gross margin and CM 2 positive while keeping the emphasis on a sustainable usage of working capital to scale over time.  

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