Online Astrology platform Astrotalk gains $9.5 million fund in extended series A round
Internet first D2C Astrology platform AstroTalk has secured Rs.78.3 crore or $9.5 million in an extension of its Series A round from existing investors Left Lane Capital and Elev8 Capital, in a mix of primary and secondary funding.
The company informed in a statement that, it was the second investment of Elev8 Venture Partners. Elev8 Venture Partners is a $200 million maiden growth-stage fund anchored by South Korea's KB Investment. The fund invests in high-growth Indian startups with the potential to scale globally. Elev8 focuses on sectors including B2B SaaS, Enterprise Tech, Consumer Tech, FinTech, and Healthcare Tech.
The managerial board of AstroTalk has passed a special resolution to issue 5,067 compulsory Convertible preference shares to raise Rs. 78.3 crore or $9.5 million.
The company said that, with the raised fund, they are planning to expand its offerings in regional languages and formats, increase its global presence, and expand its team.
Astrotalk cofounder Puneet Gupta, mentioned, “We are advancing our growth plans, and soon Astrotalk will not only be a category leader in India but also on the global stage.”
The startup works to provide one-on-one service to its users. Precisely, 90% of Astrotalk’s revenue comes from these consultations, where users pay per minute to talk to astrologers. Through this platform, users can consult astrologers via the internet, call, and chat. The company claims to have 13,000 astrologers, tarot readers, numerologists, and Vastu experts with them serving through the online platform.
The compiled by TheKredible, depicts that, astro and spiritual tech startups have raised around $25 million in the past 12 months. The notable names include Ustav App, DevDham, InstaAstro, AstroTalk, Vama, and Melooha also raised decent funding during the period. SriMandir’s parent company.
Commenting on the investment, Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners, said, "At Elev8, we firmly believe that there is significant growth potential left for the company. The management has exciting plans to create a high-growth, sustainable organisation in a unique sector."
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The company informed in a statement that, it was the second investment of Elev8 Venture Partners. Elev8 Venture Partners is a $200 million maiden growth-stage fund anchored by South Korea's KB Investment. The fund invests in high-growth Indian startups with the potential to scale globally. Elev8 focuses on sectors including B2B SaaS, Enterprise Tech, Consumer Tech, FinTech, and Healthcare Tech.
The managerial board of AstroTalk has passed a special resolution to issue 5,067 compulsory Convertible preference shares to raise Rs. 78.3 crore or $9.5 million.
The company said that, with the raised fund, they are planning to expand its offerings in regional languages and formats, increase its global presence, and expand its team.
Astrotalk cofounder Puneet Gupta, mentioned, “We are advancing our growth plans, and soon Astrotalk will not only be a category leader in India but also on the global stage.”
The startup works to provide one-on-one service to its users. Precisely, 90% of Astrotalk’s revenue comes from these consultations, where users pay per minute to talk to astrologers. Through this platform, users can consult astrologers via the internet, call, and chat. The company claims to have 13,000 astrologers, tarot readers, numerologists, and Vastu experts with them serving through the online platform.
The compiled by TheKredible, depicts that, astro and spiritual tech startups have raised around $25 million in the past 12 months. The notable names include Ustav App, DevDham, InstaAstro, AstroTalk, Vama, and Melooha also raised decent funding during the period. SriMandir’s parent company.
Commenting on the investment, Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners, said, "At Elev8, we firmly believe that there is significant growth potential left for the company. The management has exciting plans to create a high-growth, sustainable organisation in a unique sector."
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