Astrotalk Secures $9.5M Funding from Left Lane Capital and Elev8 Capital

Astrotalk funding

Three points you will get to know in this article:

  • AstroTalk, a spiritual tech startup, secured $9.5M (79 Crores approximately) in series A funding from existing investors.
  • AstroTalk is in talks to raise an additional $30 (250 Crores approximately) million to support growth.
  • AstroTalk connects customers to 13,000 astrologers, with consultations driving 90% of revenue.

Introduction to Astrotalk

Astrotalk is a comprehensive astrology platform that offers a wide range of services to its users. It has a pool of over 13,000 certified and highly-rated Vedic astrologers, tarot readers, numerologists, and Vastu experts from around the world. Astrotalk provides free kundli (horoscope) matching, daily, weekly, monthly, and yearly horoscopes, as well as auspicious time (shubh muhurat) recommendations for various life events. With over 4.3 crore happy customers across 60+ countries and over 1 lakh minutes of daily consultations, Astrotalk aims to create a community for people seeking astrological guidance and solutions to modern problems like mental health, stress, and depression, while keeping the ethos of traditional astrology intact.

Astrotalk Secures $9.5 Million in Series A Funding

Astrotalk, an on-demand spiritual tech startup, has secured $9.5 million in additional funding for its Series A round, resulting in a post-money valuation of $300 million. The round was primarily backed by current investors Left Lane Capital, a venture capital firm from New York focusing on high-growth consumer and internet technology companies, and Elev8 Capital.

AstroTalk’s board has approved a special resolution to issue 5,067 compulsory Convertible preference shares in order to raise Rs 78.3 crore or $9.5 million. The information was accessed from the regulatory filing with the RoC.

Positioning for Further Growth

According to the report, Left Lane Capital made a contribution of Rs 58.3 crore, while Elev8 Capital also participated with Rs 20 crore. This funding appears to be a part of a larger round, as AstroTalk is reportedly in talks to raise an additional $30 million. This funding comes about four months after the company raised $20 million in a Series A round led by Left Lane Capital.

AstroTalk's Business Model and Revenue

Established in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is an internationally operated platform that links customers with astrologers for services such as horoscope readings, birth chart analysis, live prayers, and more. The company’s main source of income comes from consultations, where users pay by the minute to speak with astrologers. This service makes up 90% of the company’s revenue.

Expanding Astrologer Network

AstroTalk’s revenue for FY23 increased by 146% to reach Rs 283 crore, with profits also rising by 41.7% to Rs 8.5 crore. The platform, which provides consultations with astrologers, tarot readers, numerologists, and Vastu experts, boasts a network of 13,000 professionals offering their services. The startup aims to achieve revenue of Rs 650 crore and profits of Rs 100 crore by the end of FY24.

AstroTalk, a spiritual tech startup, has secured 9.5 million in additional series A funding, led by existing investors left lane capital and Elve 8 capital. This brings astrotalk’s post – money valuation to 300 million. The company plans to use the funds to support further growth, with talks underway to raise an additional $30 million. AstroTalk operates an international platform connecting customers to over 13,000 astrologers, tarot readers, and other practitioners. The business model is primarily driven by per-minute consultations, which make up 90% of revenue. AstroTalk aims to reach Rs 650 crore in revenue and Rs 100 crore in profits by the end of FY24. 

SA Team

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