The biggest contributor to its rising losses was a massive jump in advertising expenses, which surged 8.2 times to Rs 58 crore in FY24. The Pune-based company’s EBITDA margin stood at (-)20.55 per cent, and it spent Rs 1.27 to earn every rupee in revenue. Kinetic Green has raised a total of $27 million in funding so far, with $25 million coming from Greater Pacific Capital, which holds a 5.6 per cent stake in the company. The remaining majority share of 91.7 per cent is held by co-founders Sulajja Firodia Motwani and Ritesh Ramesh Mantri. The startup will need to focus on improving operational efficiency and boosting revenue in the coming years as its position in the market is still weak while the electric two-wheeler segment remains strong in India. The company had current assets worth Rs 169 crore, including Rs 2.3 crore in cash and bank balance.
