The B2C astrotech platform raised funding led by Artha Venture Fund and also saw participation from LogX Ventures, IR Capital Partners and others
The funds will be deployed for talent acquisition, establishing strong brand awareness and global expansion
The Indian religious and spiritual market at a value of $ 58.56 Bn in 2023 and further expected to grow at a CAGR of 10% between 2024-2032
Noida-based astrotech startup InstaAstro has raised INR 18.5 Cr (around $2.3 Mn) in a Pre-Series A funding round led by existing investor Artha Venture Fund.
The round also saw participation from LogX Ventures, Singularity Ventures, InfraRed Capital Partners, Blume Founders Fund and Ixigo’s managing director and group chief executive Aloke Bajpai.
The startup plans to deploy the fresh proceeds to onboard new talents, build its brand presence and to expand its footprint across southern pockets and globally.
Founded in 2021 by Nitin Verma, InstaAstro is an online platform offering astrology services. It claims to offer multiple services, including astrology horoscope predictions, live chat/call sessions with astrologers and tarot card reading.
“Navigating the cosmic journey of growth with our recent Annual recurring revenue (ARR) achievement and the trust placed in us by our esteemed investors is exhilarating. Our new services are just the beginning. We’re poised for global expansion, aiming to connect more deeply with spiritual seekers worldwide,” said Verma.
Anirudh A Damani, managing partner, Artha Venture Fund, said, “Astrology remains a subject of interest and cuts across economic classes. InstaAstro is rightly positioned to capture a large share of the astrology market by providing reliable and affordable access to its consumers. The online astrology market is ready for disruption, and InstaAstro’s differentiated offerings are reflected in the rapid yet sustainable growth of its revenues.”
In 2021, InstaAstro raised seed funding of INR 3 Cr (around $426K) led by Artha Venture Fund.
An EMR study pegs the Indian religious and spiritual market at a value of $ 58.56 Bn in 2023. This is further expected to grow at a CAGR of 10% between 2024-2032 to reach around $150 Bn in less than a decade.
According to Tracxn, InstaAstro competes against the likes of Astrotalk, Astroyogi and GaneshaSpeaks.
Its competitor Astrotalk raised $20 Mn in its Series A funding round from Left Lane Capital in February.
