VAMA a virtual spirituality startup, has recently secured an additional $1.5 million in funding for its seed round. The investment, spearheaded by Wavemaker Partners, saw contributions from Lisa Gokongwei-Cheng of Summit Media and Harit Nagpal from Tata Play, as well as several micro venture capitalists and angel investors. Established in late 2020 by Aacharya Dev, Himanshu Semwal, and Manu Jain, VAMA has now accumulated a total funding of $2.8 million. The platform provides online religious rituals, virtual temple visits, and astrology services, collaborating with over 250 temples and linking more than 300 astrologers throughout India.

The newly acquired funds will be utilized to recruit talent, improve product development, and strengthen technological capabilities at VAMA. The company aims to introduce new products and services to enhance user experiences, transitioning the conventional offline mandir ecosystem into a digital space. Manu Jain, one of VAMA’s Co-founders, expressed dedication to catering to the spiritual needs of their expanding user base. He highlighted, "This investment underscores our steadfast commitment to fulfilling the spiritual requirements of our continuously growing user base. Our goal is to revolutionize the traditional offline mandir ecosystem into a digital landscape through content-focused products aimed at engaging, empowering, and fostering lasting connections".

Phuong Tran, Investment Principal at Wavemaker Partners, commended VAMA’s innovative approach, saying, "VAMA's inventive strategies have paved the way for an exceptional venture that addresses users' spiritual needs." The spiritual market in India has witnessed significant expansion, reaching $54.1 billion in 2022 and is projected to grow to $97.2 billion by 2028, with startups in this sector expected to claim a considerable portion of India's expanding religious economy. The emergence of spiritual tech startups has notably appealed to individuals aged 25-35, attributed to factors such as the UPI revolution, accessible internet services, and the prevalent app culture in India.