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AstroTalk set to raise $20 Mn in Series A

Entrackr · 9m

Online astrology platform AstroTalk is raising nearly $20 million in its Series A round from New York-based Left Lane Capital. This will be the Noida-based firm’s maiden institutional funding round. The board at AstroTalk has passed a special resolution to issue 11,211 Series A CCPS at an issue price of Rs 1,45,531 (upper-band) each to raise Rs 163 crore or close to $20 million, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per the startup data intelligence platform TheKredible, the company has been valued at around $200 million (post allotment). Entrackr was the first to report about this round in August 2023. AstroTalk is a platform to consult astrologers via the internet, call, and chat and claims to have 13,000 astrologers, tarot readers, numerologists, and vastu experts on its platform. The platform lets users connect with the aforementioned experts for future predictions related to marriage, love life, career, and health among others. To popularize its offerings, AstroTalk roped in a clutch of celebrities including Ranbir Kapoor, Shraddha Kapoor, Mouni Roy, Bharti Singh, and Virender Sehwag. While most startups of its age in the consumer internet space have been soaked deep into losses, AstroTalk is profitable with over two-fold growth in its operating scale. The company posted 146% growth in its revenue to Rs 283 crore in FY23 whereas its profits spiked 41.7% to Rs 8.5 crore. As per the current average revenue run rate, the company projected to end FY24 with Rs 650 crore in revenue and Rs 100 crore in profit. AstroTalk has emerged as the poster boy in its space but it competes with GaneshaSpeaks, InstraAstro, Click Astro, and Bodhi. In the past six months, a clutch of astro and spiritual tech startups raised funds. The list included Vama, Utsav, DevDham (previously DevDarshan), and Melooha. As per Entrackr’s sources, Bodhi and instaAstro are also in talks to raise new rounds.