Online astrology platform AstroTalk has successfully raised Rs 78.3 crore ($9.5 million) in an extension of its Series A round, with contributions from existing investors Left Lane Capital and Elev8 Capital.
This recent funding round positions AstroTalk’s valuation at approximately Rs 2,478 crore ($300 million), reflecting a 33.3% increase from its previous valuation.
Regulatory filings accessed from the RoC indicate that AstroTalk’s board passed a special resolution to issue 5,067 compulsory convertible preference shares, facilitating the Rs 78.3 crore raise. Left Lane Capital contributed Rs 58.3 crore, while Elev8 Capital added Rs 20 crore. This funding tranche is part of a larger round, with AstroTalk reportedly in discussions to secure an additional $30 million.
TheKredible’s estimates highlight the post-money valuation increase, with the potential for further valuation growth as additional funds are secured. To date, AstroTalk has raised Rs 172 crore, including Rs 166 crore ($20 million) in its initial Series A round in February.
AstroTalk provides an online platform for consulting astrologers, tarot readers, numerologists, and Vastu experts through Internet, call, and chat services. Boasting a network of 13,000 professionals, the platform facilitates predictions related to marriage, love life, career, and health.
The firm, backed by Left Lane Capital, showcased impressive financial performance in FY23, with revenue surging 146% to Rs 283 crore and profits increasing by 41.7% to Rs 8.5 crore. Projected figures for FY24 indicate revenue could reach Rs 650 crore, with profits expected at Rs 100 crore, although audited financial results for FY24 are pending.
In the broader context, astro and spiritual tech startups have collectively raised around $25 million over the past 12 months, according to data compiled by TheKredible. Notable companies in this sector include Ustav App, DevDham, InstaAstro, AstroTalk, Vama, and Melooha, all of which have attracted significant funding during this period.
AstroTalk’s recent funding round and valuation surge underscore the growing investor confidence in the Astro and spiritual tech market, highlighting the sector’s robust growth potential and financial viability.
Source: Entrackr
