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InstaAstro raises $2.3 Mn led by Artha Venture Fund

EntrackrEntrackr · 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 Sharma’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 platform’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 Entrackr’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.

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RevOps startup Clientell raises $2.5 Mn in seed round

EntrackrEntrackr · 1y ago
RevOps startup Clientell raises $2.5 Mn in seed round
Medial

RevOps startup Clientell has raised $2.5 million in its seed round led by Blume Ventures. The round also saw participation from Chiratae Ventures, Artha Venture Fund and Silicon Valley-based Z5 Capital. Earlier to this round, the startup had raised $600,000 from Chiratae Ventures’ sonic cohort at the end of 2021, co-led by Artha Venture fund. The fresh proceeds will be used to strengthen its product and expand the team, the company said in a press release. Founded in 2021 by Saahil Dhaka and Neil Sarkar, Clientell helps businesses improve revenue generation efficiency by introducing AI copilots to boost their go-to-market (GTM) execution and optimize pipeline governance and forecasting. The Bengaluru-based startup deploys custom forecasting processes and ML models for each customer rather than using a one-size-fits-all approach. With its AI copilot, Clientell claims to have enabled its users, primarily chief revenue officers and Go-to-market leaders, to boost GTM execution and optimize pipeline governance and forecasting. Currently, the startup is working with initial design partners and early adopters spanning growth-stage SaaS companies and large pharmaceutical companies.

Exclusive: Flipkart may foray into astrology with InstaAstro takeover

EntrackrEntrackr · 5m ago
Exclusive: Flipkart may foray into astrology with InstaAstro takeover
Medial

Exclusive: Flipkart may foray into astrology with InstaAstro takeover E-commerce giant Flipkart is exploring an entry into the astrology and devotion sector through a potential acquisition of astrotech startup InstaAstro. While startups in this niche have attracted substantial funding over the past year, this move would represent a significant step toward consolidation in the emerging space. "InstaAstro has been seeking buyers for the past few months, with Flipkart emerging as one of the leading contenders for the acquisition," said a source on condition of anonymity. "The Walmart-owned company may spend anywhere between $18 to $25 million, including cash and stocks, for the acquisition." Backed by the likes of Artha Venture Fund, LogX Ventures, Singularity Ventures, Blume Founders Fund, and Ramakant Sharma’s LogX Ventures, InstaAstro has raised around Rs 21.7 crore ($2.6 million) across two funding rounds since its inception in 2021. Flipkart may rebrand InstaAstro to “Sukh” post acquisition, said sources. Founded by Nitin Verma, InstaAstro offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages. After the latest funding, the startup also launched new spiritual e-commerce, daily pooja, and reiki healing services. “Flipkart had engaged in talks with a couple of startups in the astrology and devotion space. However, those talks didn’t work out,” said another source who also wished not to be named as the talks are yet to be public. Queries sent to Flipkart and InstaAstro on Wednesday evening remained unanswered at the time of publication. InstaAstro’s revenue from operations surged nearly 2X to Rs 25 crore in FY24 from Rs 12.96 crore in FY23. As per TheKredible, its losses also jumped at a similar pace to Rs 8.11 crore from Rs 4.26 crore in FY23. Sources assert that InstaAstro has an average revenue run rate (ARR) of Rs 50-60 crore. InstaAstro competes with GaneshaSpeaks, AstroTalk, Click Astro, Astroyogi, and Bodhi. Among them, AstroTalk leads in both funding and profitability. The Puneet Gupta-led company reported a revenue of Rs 651.12 crore in FY24, with a profit of nearly Rs 100 crore, and aims to reach Rs 1,250 crore in revenue for FY25. Data from TheKredible reveals that startups in the astro and spiritual tech sector, including AstroTalk, Vama, Ustav App, DevDham, InstaAstro, and Melooha, have collectively raised more than $65 million over the past 18 months. The sector also saw consolidation as BrahmVeda acquired Vedvaani and Melooha took over Munitalks.

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