Astrotalk will utilise the fresh capital to expand its product portfolio, shore up offerings in regional languages and expand global presence
As per the startup’s RoC filings, it recently raised INR 78.3 Cr in an extended Series A funding round from Left Lane Capital and Elev8 Capital
Founded in 2017, Astrotalk is an online astrology startup that offers fortune telling services to its target audience
Update | June 4, 12:10 AM
Online astrology platform Astrotalk has raised INR 110 Cr ($14 Mn) in a mix of primary and secondary funding.
In a statement, Elev8 Venture Partners said out of the INR 110 Cr, it invested INR 55 Cr in a mix of primary and secondary investments.
Astrotalk will utilise the fresh capital to expand its product portfolio and shore up offerings in regional languages. Additionally, it will also use the funds to ramp up its global presence, and expand team size, the statement added.
Commenting on the fundraise, Astrotalk cofounder Puneet Gupta said, “… We are advancing our growth plans, and soon Astrotalk will not only be a category leader in India but also on the global stage”.
Original Story | June 3, 05:21 PM
Online astrology platform Astrotalk raised INR 78.3 Cr ($9.5 Mn) in an extended Series A funding round from its existing investors Left Lane Capital and Elev8 Capital.
The startup’s board has passed a special resolution to issue 5,067 compulsory convertible preference shares to raise INR 78.3 Cr, as per its filing.
The startup’s board initially approved to raise above INR 58 Cr (more than $7 Mn) from Left Lane Capital and about INR 20 Cr (about $2.4 Mn) from Elev8 Capital, the filings said as viewed by Inc42.
Besides, reports verified by Inc42 revealed Astrotalk has received INR 58 Cr from Left Lane, while the funding from Elev8 is still due.
Astrotalk, founded by Puneet Gupta and Anmol Jain in 2017, is an online astrology startup that offers fortune telling services to its target audience.
The startup works to provide one-on-one service to its users. To be sure, 90% of Astrotalk’s revenue comes from these consultations, where users pay per minute to talk to astrologers.
Earlier this year, the Delhi NCR-based platform raised $20 Mn in its Series A funding round from Left Lane Capital. Back then it said that the funds would be used for strategic acquisitions to expand in international markets, solidify new business verticals, and hire senior leadership roles.
As per Astrotalk’s audited FY23 financials accessed by Inc42, the startup has reported revenue of INR 282 Cr with a profit of INR 27 Cr in the last fiscal year.
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