Astrotalk, an online astrology and mental wellness platform, has raised INR 110 crore (USD 14 million) in funding. The investment was led by Elev8 Venture Partners, which had a contribution of INR 20 crore in primary transactions and INR 35 crore in secondary transactions. Left Lane Capital, which is a New York-based venture capital firm also participated in this by investing an additional INR 55 crore.
Elev8 Venture Partners, backed by South Korea’s KB Investment, is a USD 200 million growth-stage fund that focuses on high-growth Indian startups in sectors like B2B SaaS, enterprise tech, consumer tech, fintech, and healthtech.
Strategic Goals and Fund Utilization
According to Puneet Gupta, Co-founder of Astrotalk, this round of funding is considered a Series A extension or pre-Series B. The company plans to use these funds to expand its regional language offerings, improve the user experience, increase its global presence, and grow its team. The goal is to make the platform more accessible and develop its services for a diverse audience.
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Future Plans and Expansion
Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners, expressed excitement about the investment. He praised the rapid growth and potential of Astrotalk by highlighting Astrotalk’s plans to create a sustainable, high-growth organisation in a unique sector.
They are also planning to sell certified Vedic wearables and expand their product offerings. Puneet Gupta emphasised that, with the support of Elev8, they aim to launch new apps, enter new geographies, and introduce new categories this year. This will help solidify Astrotalk’s position as the largest spiritual-tech company in India.
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About Astrotalk
Astrotalk, which was founded in 2017, offers a range of services including Vedic astrology, vaastu, tarot card reading, and online puja. The platform boasts over five million active users and one million monthly transacting users, with more than 20,000 astrologers and spiritual practitioners available.
About Author
This article has been written by Mr Radhesh Tarang Shah, who is a third-year management student at Institute of Management, Nirma University. He has a passion for writing articles and poems. He has experience as a financial analyst, author, news writer, marketer and social worker.
