Bengaluru-based Animall is a different startup for several reasons. The company caters to cattle buyers and sellers and the allied ecosystem, a segment largely ignored by the new-age entrepreneurs until recently. It’s led by Neetu Yadav, a woman CEO in a sector that hardly has any women, and has successfully closed three back to back rounds within 15 months.
The company is at a pre-revenue stage and FY21 was its first full financial year of operations. During the fiscal ending March 2021, it recorded operating revenue of Rs 5.32 lakh, as per its annual financial statements filed with RoC.
Animall also made Rs 27.07 lakh through interest income on bank deposits.
Growth comes at cost: Animall spent Rs 9.85 Cr on selling and distribution
At Rs 9.85 crore, expenses incurred on selling and distribution of cattle has emerged as the largest cost for the company. Broadly, this burn comprises marketing, organising virtual events and onboarding service providers such as veterinary doctors.
Its app downloads would also have taken some serious investments, based on Sensor Tower numbers. Animall was downloaded 6 million times in FY21 while it recorded 10 million downloads since its inception in November 2019. A very impressive number for a category as niche as Animall’s.
Animall spent Rs 1.47 crore on salaries and other employee benefit expenses in FY21. While LinkedIn indicates 46 employees. We assume there are a lot of field staff too in addition.
Overall, the company had booked expenses of Rs 12.96 crore in FY21.
It’s worth noting that the company was in operation for just a few months in FY20. Hence, its FY20 financial numbers are not comparable. On a unit level, Animall has spent Rs 243.74 to earn a rupee of operating income in FY21.
A quick look at space and competition
With the higher penetration of smartphones in rural belts, platforms like Animall have a real opportunity to gain acceptance and prominence, even as rural fairs dwindle down. Operating across major parts of North India including Haryana, Uttar Pradesh and Rajasthan, Animall claims to be the largest trading platform for cattle in India for now.
To date, the firm has mopped up close to $25 million as equity capital. Its backers include Sequoia Capital, Nexus Venture Partners, SAI Global India Fund and many top-tier angels. According to Fintrackr, it was valued at $75 million in its Series B round in July.
Its competitors include Pashu Mall, Pashu Mela, Pashushala and Pahu Vyapar.
