Online astrology platform AstroTalk to raise $20 M Series A funding from Left Lane
Left Lane Capital, a New York-based venture capital firm, is helping online astrology platform AstroTalk raise close to $20 million in its Series A round. This is the first institutional funding round for the Noida-based company.
According to AstroTalk’s regulatory filing obtained from the Registrar of Companies (RoC), the board approved a special resolution to issue 11,211 Series A CCPS at an issue price of Rs 1,45,531 (upper-band) each in order to raise Rs 163 crore, or almost $20 million.
AstroTalk is a platform that offers online, phone, and chat astrological consultations. The platform boasts 13,000 astrologers, numerologists, tarot readers, and vastu experts. Through the platform, users can get future predictions about a variety of topics, including marriage, a romantic relationship, a career, and health.
AstroTalk brought in a number of well-known people to help publicize its products, including Virender Sehwag, Mouni Roy, Ranbir Kapoor, Shraddha Kapoor, and Bharti Singh.
AstroTalk is profitable and has grown its operating scale by more than twice as much as most startups in the consumer internet space of its age. In FY23, the company reported a 146% increase in revenue to Rs 283 crore, while profits shot up 41.7% to Rs 8.5 crore. The company estimated that it will end FY24 with Rs 650 crore in revenue and Rs 100 crore in profit, based on the current average revenue run rate.
Although it competes with GaneshaSpeaks, InstraAstro, Click Astro, and Bodhi, AstroTalk has become the industry poster child. A number of astrological and spiritual tech startups have raised money in the last six months. Vama, Utsav, Melooha, and DevDham (formerly DevDarshan) were on the list.
