InstaAstro, a leading online astrology platform, has successfully raised ₹18.50 crore in a pre-Series A funding round led by Artha Venture Fund.
The round also saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund, and industry luminary Aloke Bajpai, MD and CEO of Ixigo.
With the infusion of fresh capital, InstaAstro aims to launch new offerings, including a spiritual e-commerce platform, Daily Pooja, and Reiki healing services. The funds will also be utilized to expand the company’s footprint, add more astrologers to its platform, and enhance its brand presence.
Founded by Nitin Verma, an IIT graduate and seasoned entrepreneur, InstaAstro has achieved remarkable growth in a short span of three years.
The company reports over 200,000 monthly app installs and an annual recurring revenue (ARR) of $5 million. InstaAstro offers a variety of services, such as horoscopes, tarot readings, and numerology, in multiple languages, including English, Hindi, and various regional dialects.
The platform boasts a user base of over 50 lakh and has provided more than 2 crore minutes of consultation to its subscribers in FY24. Currently, InstaAstro hosts 1,500 astrologers on its platform.
Anirudh A. Damani, Managing Partner at Artha Venture Fund, remarked, “Astrology remains a subject of interest across economic classes. The online astrology market is poised for disruption, and InstaAstro’s differentiated offerings are evident in its rapid and sustainable revenue growth.”
The interest in astrology-based startups has been on the rise. In February this year, Noida-based Astrotalk raised $20 million in a Series A round led by New York-based venture capital firm Left Lane. Astrotalk’s founder and CEO, Puneet Gupta, announced plans to launch an IPO in 2025–26.
According to a report by Expert Industry Research, the Indian religious and spiritual industry was valued at $44 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 10 percent between 2023 and 2028.
InstaAstro’s innovative approach and expanding service offerings position it well to capitalize on the growing market for online astrology and spiritual services.
