Apna, a Bengaluru-based professional networking platform, reduced its net loss by over 57% in FY24, dropping to 51.3 crore rupee (US$5.92 million) from 120.3 crore rupee in FY23 (US$13.88 million).

Its EBITDA loss narrowed to 35.2 crore rupee (US$4.06 million) from 105.1 crore rupee (US$12.13 million), improving the EBITDA margin to -28% from -58%.

However, operating revenue declined by more than 29% year-on-year to 127.6 crore rupee (US$14.73 million), mainly due to a drop in software development support services income.

Total revenue, including additional income, stood at 139.8 crore rupee (US$16.13 million).

Founded in 2019, Apna initially focused on blue- and grey-collar job listings before expanding to white-collar roles in 2021.

It became a unicorn that year after raising US$100 million in a series C round led by Tiger Global, bringing its total funding to over US$193 million.