Team StartupCity

• Faith tech startup Vama raises Rs 22 crore in pre-Series A round led by Wavemaker Partners
• Funds to boost e-commerce, expand categories, and support global growth
• Vama sees fast revenue growth, aims for profitability and 1 million users

Vama, a faith tech startup offering virtual spiritual and religious services, has raised Rs 22 crore (approx. $2.47 million) in a pre-Series A round led by Wavemaker Partners. The round also saw participation from 500 Global (marking its first investment in Vama), Sadev Ventures, Venture Catalysts, Silverneedle Ventures, and a group of angel investors.

Founded in 2020 by Acharya Dev and Manu Jain, Vama blends traditional faith with modern tech, allowing users to access temple services, astrology consultations, and spiritual products through its mobile platform.

The new funds will be used to launch new service categories, strengthen its e-commerce arm 'Vama Mall', expand marketing, and prepare for international expansion, especially targeting the NRI community. The company also plans to enter the offline spiritual travel space.

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Vama claims it doubled its revenue to Rs 19.5 crore in FY24 and is on track to double again in FY25. Its core temple services contribute 70% of the revenue, while astrology and e-commerce make up the rest. The company currently serves over 1.5 lakh users and aims to grow to 1 million users over the next two years, while expanding its temple partnerships from 250 to 500.

Despite operating in a competitive space with platforms like AppsForBharat, DevDham, and Utsav App, Vama stands out by maintaining positive contribution margins and targeting EBITDA profitability as it scales.