iKen Solutions Pvt. Ltd.
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iKen Solutions Pvt. Ltd. - overview
Location
Mumbai, Maharashtra, India
Primary Industry
Software
About
iKen Solutions Pvt. Ltd. is an innovative technology firm that specializes in data-driven solutions for critical sectors, including finance and human resources, enhancing decision-making through advanced analytics and efficient web platforms. Founded in Navi Mumbai, India, iKen Solutions Pvt.
Ltd. focuses on integrating data engineering and machine learning into various services. The company raised INR 30 million in venture funding from India Innovation Fund on June 18, 2013, marking a significant investment in its growth strategy. Siddharth Goel serves as the CEO, leading the firm in its operations and strategy.
iKen Solutions specializes in delivering data-driven products designed for critical sectors, including financial markets, investing, human resources, and e-commerce. Their primary offerings encompass a wide range of full-stack solutions that integrate data engineering, machine learning, and web development. A notable product is the Nifty Shloka, a wealth management platform that simplifies investment processes by providing access to a variety of asset classes such as equities, fixed income, and gold. Another key solution is their workforce success tools, which utilize psychometric assessments and personalized development plans aimed at reducing employee attrition and enhancing performance.
iKen Solutions serves a diverse client base across various geographical regions, including North America, Europe, and parts of Asia, enabling organizations to leverage data for strategic decision-making and operational optimization. In the most recent financial year of 2023, iKen Solutions reported a revenue of INR 224,778. 1 and an EBITDA of -INR 112,306. 3.
The company's revenue model is primarily structured around business-to-business (B2B) partnerships and subscriptions related to their various product offerings, fostering long-term collaborations with clients through tailored subscription plans. iKen Solutions plans to leverage the INR 30 million raised in June 2013 to enhance its product offerings and expand into new markets. The company is developing new tools aimed at improving wealth management and workforce optimization, with plans to launch these products by mid-2024. Additionally, the firm aims to penetrate deeper into the European and North American markets, seeking to establish a stronger presence by the end of 2024.
Current Investors
India Innovation Fund
Primary Industry
Software
Sub Industries
Analytics & Performance Software, Sales & Marketing Software
Website
www.ikensolutions.com
Verticals
Artificial Intelligence
Company Stage
Angel & Seed
Total Amount Raised
Subscriber access only
iKen Solutions Pvt. Ltd. - timeline of key events
iKen Solutions Pvt. Ltd. - financials
| Fiscal Year Ended | Mar 31, 2011 | Mar 31, 2012 | Mar 31, 2013 | Mar 31, 2014 | Mar 31, 2015 | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | - | - | - | 24,186,991 | 46,042,605 | 20,907,466 | 33,181,920 | 34,452,944 | 50,955,408 | 28,440,012 | 26,898,278 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | - | 90.4% | (54.6%) | 58.7% | 3.8% | 47.9% | (44.2%) | (5.4%) | - | - | - |
| EBITDA (USD) | (394,000) | (466,000) | (2,525,000) | 5,287,460 | 7,793,291 | (30,937,807) | 10,088,063 | 7,381,842 | 12,964,124 | 3,674,356 | 7,760,259 | - | - | - |
| Operating Income (USD) | (394,000) | (466,000) | (2,525,000) | 1,413,052 | 2,739,148 | (36,562,677) | 7,994,268 | 4,005,288 | 10,560,571 | 1,879,256 | 3,197,000 | - | - | - |
| Operating Margin | - | - | - | 5.8% | 5.9% | (174.9%) | 24.1% | 11.6% | 20.7% | 6.6% | 11.9% | - | - | - |
| % EBITDA Margin | - | - | - | 21.9% | 16.9% | (148.0%) | 30.4% | 21.4% | 25.4% | 12.9% | 28.9% | - | - | - |
| NET Income (USD) | (394,000) | (466,000) | (2,525,000) | 194,721 | 792,286 | (38,873,861) | 4,827,738 | (354,648) | 7,363,012 | (1,122,058) | 766,522 | - | - | - |
| % Net Margin | - | - | - | 0.8% | 1.7% | (185.9%) | 14.5% | (1.0%) | 14.4% | (3.9%) | 2.8% | - | - | - |
iKen Solutions Pvt. Ltd. - employee data
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