๐Ÿš€ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐Ÿ”ฅ
Login

News on Medial

Related News

InstaAstro raises $2.3 Mn led by Artha Venture Fund

EntrackrEntrackr ยท 1y ago
InstaAstro raises $2.3 Mn led by Artha Venture Fund
Medial

Online astrology platform InstaAstro has raised Rs 18.50 crore in its pre-Series A round led by Artha Venture Fund. The round also saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund and Aloke Bajpai, MD & CEO of Ixigo. In November 2021, InstaAstro had raised Rs 3.2 crore in a seed round led by Artha Venture Fund along with Ramakant Sharmaโ€™s LogX Ventures. With fresh funds, InstaAstro is launching new spiritual e-commerce, daily pooja, and reiki healing services. As per the company, these offerings would deepen the platformโ€™s user engagement and provide access to a comprehensive spiritual and astrological guidance ecosystem. Founded by Nitin Verma, InstaAstro claims to have over 200,000 monthly app installs, 50,000 minutes per day in consultations, and an ARR of $5 million. It offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages. The startup has a total user base of over 5 million users and provided a cumulative consultation of more than 2 crore (20 million) minutes to its subscribers in FY24. The firm has 1,500 astrologers on its platform. It competes with GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi. In the past 12 months, a clutch of astro and spiritual tech startups raised funds. The list included AstroTalk, Vama, Utsav, DevDham (previously DevDarshan), and Melooha. As per Entrackrโ€™s sources, Bodhi is also in talks to raise a new round. AstroTalk had raised the largest funding ($20 million) among the astro and spiritual tech startups.

AstroTalk raises $20 Mn from Left Lane Capital

EntrackrEntrackr ยท 1y ago
AstroTalk raises $20 Mn from Left Lane Capital
Medial

Spiritual tech startup AstroTalk on Monday announced that it has raised $20 million in a Series A round from Left Lane Capital, a New York-based venture capital firm that invests in high-growth consumer and internet technology companies. This is one of the largest funding rounds in the spiritual-tech industry in India, so far. AstroTalk will use the funds for strategic acquisitions to expand in international markets, solidify new business verticals, and hire senior leadership roles, the company said in a press release. Last week, Entrackr exclusively reported about the upcoming funding round in AstroTalk. Founded in 2017 by Puneet Gupta and Anmol Jain, AstroTalk connects consumers to astrologers for horoscope readings, birth chart analysis, live prayers and more. The platform boasts over 15,000 active astrologers and has served more than 4 crore users to date. โ€œAstrotalk is a โ€˜Made in India, Built for the Worldโ€™ company, eyeing expansion across the US, Canada, UK & Middle East. One-on-one consultations stand to be approximately 95% of our revenue with about 20% of the revenues coming from outside of India,โ€ said Puneet Gupta, founder and CEO of Astrotalk in the release. Currently, the company is building a strong leadership team to head new business verticals and is actively hiring. Additionally, it is planning an ESOP buyback to create wealth for its employees. AstroTalk claims to clock an ARR of approximately Rs 800 crore in FY24 and a 100% year-on-year revenue growth in the last three years. As per the companyโ€™s annual financial statement, it posted 146% growth in its revenue to Rs 283 crore in FY23 whereas its profits spiked 41.7% to Rs 8.5 crore. The firm also projected to end FY24 with Rs 650 crore in revenue and Rs 100 crore in profit. It competes with GaneshaSpeaks, InstraAstro, Click Astro, and Bodhi.

AstroTalk profit zooms 12X to Rs 100 Cr in FY24

EntrackrEntrackr ยท 8m ago
AstroTalk profit zooms 12X to Rs 100 Cr in FY24
Medial

AstroTalk, a spiritual-tech company in India, experienced significant growth in the fiscal year ending March 2024. Its revenue from operations doubled to Rs 651.12 crore, with income from India and overseas countries seeing substantial increases. The company's profit also surged 12-fold to Rs 99.99 crore. AstroTalk operates as a digital astrology consultancy platform, connecting users with professional astrologers. Despite some skepticism, astrology and spiritual tech startups in India have raised around $60 million in funding in the past 15 months. The success of companies like AstroTalk can be attributed to the formalization of the economy and the demand for immediate information in the consumerist society.

Exclusive: AstroTalk seeks unicorn valuation in new round

EntrackrEntrackr ยท 4d ago
Exclusive: AstroTalk seeks unicorn valuation in new round
Medial

Exclusive: AstroTalk seeks unicorn valuation in new round Noida-based AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. Astrology-focused platform AstroTalk is in mid stage talks to raise a new funding round in the range of $50-100 million, according to three sources aware of the development. The fresh funding talks have been initiated after a gap of 12 months for the Noida-based company. โ€œThe discussions are ongoing with multiple investors, including a few existing backers,โ€ said one of the sources on condition of anonymity. โ€œThe new round is likely to be the final one before the company files its DRHP for a public listing by the first half of the next year.โ€ As per sources, the firm will begin the IPO process in a few months. AstroTalk closed a $14 million funding round in June last year. As of now, it has raised $34 million from Left Lane and Elev8 Capital. โ€œAstrotalk is seeking a valuation of $1.3 to $1.5 billion in the new round, which is expected to close in the next couple of months,โ€ said another source, who requested anonymity as the discussions are private. This will be a substantial increase from its earlier $300 million valuation. If the firm achieves this valuation, Astrotalk will join the ranks of Jumbotail, Drools, Porter, Netradyne, and Juspay, all of which became unicorns in the ongoing calendar year (2025). For the uninitiated, AstroTalk is an online platform that enables users to consult with astrologers through the internet, phone calls, and chat. It claims to host a network of 45,634 professionals, including astrologers, tarot readers, numerologists, and Vastu experts. The platform offers services for personalized predictions and guidance on areas such as marriage, relationships, career, health, and more. The Puneet Gupta-led company has recorded strong growth over the past two fiscal years. As per an internal document reviewed by Entrackr, Astrotalk ended FY25 with Rs 1,182 crore in revenue and a profit of over Rs 250 crore. This follows a sharp rise in FY24, when it reported Rs 651 crore in revenue and Rs 100 crore in profit. AstroTalk declined to comment on the story. AstroTalk recently diversified its offerings with the launch of a D2C vertical focused on spiritual and wellness products. This includes services like puja bookings, gemstones, and astrological remedies. According to co-founder Anmol Jain, the D2C business is expected to contribute 25-30% of overall revenue while maintaining profitability. AstroTalkโ€™s planned IPO comes at a time when profitable, consumer-tech startups are seeing renewed interest from investors. If successful, it would be the first venture-funded player in the online astrology segment to go public. The company faces competition from platforms like Astrosage, Astroyogi, GaneshaSpeaks, and InstraAstro.

Download the medial app to read full posts, comements and news.