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News on Medial
AppsForBharat Nets $18 Mn To Boost Operations Of Its Spiritual App Sri Mandir, Eyes Offline Expansion
Inc42
·
11m ago
Medial
AppsForBharat has raised funds to expand its Sri Mandir app, which aims to provide services for the devotional ecosystem. The funds will be used to scale up operations, onboard new temples, launch additional services, and build a comprehensive tech stack. The Sri Mandir app achieved contribution margin positivity in February 2024 and the founder expects it to become profitable within the next 18-24 months. Additionally, there are plans to expand Sri Mandir into offline channels within the next six months.
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Sri Mandir Parent AppsForBharat Bags INR 175 Cr
Inc42
·
1m ago
Medial
AppsForBharat, the creator of the spiritual app Sri Mandir, has secured INR 175 crore in a Series C funding round led by Susquehanna Asia VC, with support from existing investors like Fundamentum, Elevation Capital, and Peak XV Partners. Launched in 2020, Sri Mandir has over 4 crore downloads and facilitates online pooja bookings and offerings. The funds will be used to expand to over 20 temple towns and enhance its commerce capabilities and AI innovations.
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Sri Mandir keeps investors hooked as digital devotion grows | TechCrunch
TechCrunch
·
1m ago
Medial
AppsForBharat, creator of the Hindu devotional app Sri Mandir, has raised $20 million, marking strong investor interest. Founded in 2020, the app allows devotees to perform online prayers and make virtual offerings to over 70 temples, achieving 40 million downloads. With a user base of 3.5 million monthly active users, including significant diaspora participation, the app is expanding both digitally and physically across India. AppsForBharat aims for profitability and a potential public listing by 2027-28.
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AppsForBharat raises $18 million funding led by Fundamentum
Economic Times
·
11m ago
Medial
AppsForBharat, the parent company of devotion platform Sri Mandir, has raised $18 million in funding led by Fundamentum. The funds will be utilized to expand operations in India and internationally, add more temples to the platform, launch new services, and develop a comprehensive tech stack for the devotion ecosystem. Sri Mandir offers a virtual platform for devotees to perform pujas, connect with prayer groups, and access devotional content. They aim to increase their user base and revenue, expand language support, and strengthen their presence in India and key international markets.
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AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture
Livemint
·
1m ago
Medial
AppsForBharat, a Bengaluru-based startup running the devotional app Sri Mandir, raised ₹175 crore in a Series C funding round led by Susquehanna Asia Venture Capital. The funding round nearly doubled the company's valuation to $175 million since September 2024. AppsForBharat facilitated 52 lakh online pujas at over 70 temples and achieved a revenue rate of ₹100 crore in FY25. Existing investors include Nandan Nilekani’s Fundamentum, Elevation Capital, and Peak XV Partners.
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Ayodhya Temple Inauguration: Spiritual Tech Startups Gear Up To Cater To Devotees
Inc42
·
1y ago
Medial
Startups in the spiritual tech sector in India are gearing up for the consecration ceremony of the Ram temple in Ayodhya, expecting a significant boost in business. VAMA is offering online poojas, e-darshans, and astrology services, while AppsForBharat's Sri Mandir app allows users to make offerings in the temple virtually. With the potential for a 10X growth in Ayodhya alone, startups are looking to capitalize on the surge in spiritual tourism and attract investor capital. The Indian faith market stands at $58.56 billion, making it a lucrative space for tech startups.
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AppsForBharat announces first ESOP buyback worth Rs 2.1 Cr
YourStory
·
9m ago
Medial
Devotional platform Sri Mandir's parent company, AppsForBharat, has announced its first Employee Stock Option Plan (ESOP) buyback worth Rs 2.1 crore. The buyback will allow 25 employees to cash out a portion of their vested stock options. The initiative, facilitated through a partnership with Infinyte Club, aims to reward and acknowledge the contributions of long-term team members. AppsForBharat recently raised $18 million in Series B funding for the expansion of Sri Mandir's operations and the development of new temples and services.
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Leap of faith: Spiritual apps on global quest
Economic Times
·
4m ago
Medial
Several devotional apps, including Vama.app and AppsForBharat, are expanding globally to connect the Indian diaspora with their spiritual roots. Vama.app plans launches in the US, UK, and Canada, while AppsForBharat aims to enter markets like Singapore and South Africa. Both companies are leveraging the Maha Kumbh's popularity to boost engagement. As devotion transcends borders, these platforms offer region-specific spiritual services and ecommerce options for international devotees, supported by significant venture capital investments.
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India's spiritual startup boom: Faith goes fully digital
Inshorts
·
2m ago
Medial
India's spiritual tech startups are reshaping devotion through digital poojas, live-streamed aartis, and AI-led rituals. Platforms like Sri Mandir and Sadhana blend tradition with technology, enabling users to worship anytime, anywhere. With over 950 startups and $50 million raised in 2024 alone, the sector bridges generational gaps and redefines how modern Indians engage with spirituality.
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Exclusive: Info Edge in talks to lead $2.5 Mn round in Ghar Mandir
Entrackr
·
7d ago
Medial
Exclusive: Info Edge in talks to lead $2.5 Mn round in Ghar Mandir Ghar Mandir, a digital devotional platform, is in late-stage talks to raise $2.5 million in its maiden funding round led by Info Edge, according to people familiar with the matter. The latest capital infusion is expected to help Ghar Mandir accelerate its product development and expand its reach, as competition intensifies within India’s burgeoning faith-tech sector. “Info Edge is expected to issue a term sheet as due diligence enters its final stage,” said one of the persons requesting anonymity. The round will mark Info Edge’s first lead investment in the temple-tech or devotion tech space this year. Ghar Mandir, founded by Samya Mittal and Apurva Shah in August 2023, lets users book temple offerings and devotional services online. Partnering with over 50 temples and priests, it delivers prasad, conducts rituals starting at Rs 101, and shares video recordings. The bootstrapped platform claims to have served over one lakh users to date. According to sources, the deal is expected to close in a few weeks, with Ghar Mandir targeting a valuation of $10–15 million, if all goes as planned. Queries sent to Ghar Mandir and Info Edge did not elicit an immediate response. The move comes on the heels of competitor AppsForBharat, parent of Sri Mandir, raising $20 million in a Series C round led by Susquehanna Asia Venture Capital last month. DevDham, Vama, Utsav App, Sutradhar, and 27 Mantra are also competing in the same space. According to a formal complaint against Ghar Mandir and others reviewed by Entrackr, the apps came under scrutiny following a spate of cyber frauds. A notice from the Ahmednagar Cyber Police warned about fake websites offering VIP passes for the Shirdi Sai Baba temple. The complaint added that fraudsters are deceiving people by collecting money and personal details through these sites.
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Digital spiritual platform Bhagva raises $1 Mn in pre-Series A round
Entrackr
·
4m ago
Medial
Digital spiritual platform Bhagva raises $1 Mn in pre-Series A round Digital spiritual platform Bhagva has raised $1 million in a pre-Series A funding round from Australian high-net-worth individual Pradeep Nain, among other investors. The proceeds will be used to expand its technological infrastructure and optimize its operational capabilities, ensuring a seamless and enriching experience for its growing user base, Bhagva said in a press release. Founded in 2022 by Jagriti Motwani, Bhagva provides users with access to online pujas and pandit booking services, enabling spiritual rituals to be performed effortlessly. Additionally, the platform offers detailed Panchang and horoscope features, delivering daily spiritual guidance and essential updates to its users. The app’s user-friendly interface ensures accessibility across all age groups. The Delhi-based company aims to empower women and underrepresented groups by offering skill education related to pooja articles. This includes training in making items such as agarbattis (incense sticks), solar diyas, and various artifacts, enabling them to partake in economic and cultural activities. Bhagva says that its app and website are a daily source of spirituality, allowing digital pooja, online pooja, offline pooja, panchang, astrology, jaap services, along with a pooja shop. It remains committed to enriching the spiritual lives of individuals by blending age-old traditions with the conveniences of modern technology. It competes with other players in this space such as Astrotalk, AppsForBharat, Vama.app, DevDham, Utsav, InstaAstro, Japam, Temple Connect, and Rgyan.
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