Online astrology platform InstaAstro raised $2.3 M Pre-series A funding from Artha Venture Fund

With the help of Artha Venture Fund, the online astrology platform InstaAstro has raised Rs 18.50 crore in its pre-Series A round. In addition, Blume Founders Fund, Singularity Ventures, LogX Ventures, IR Capital Partners, and Ixigo’s MD and CEO, Aloke Bajpai, participated in the round.

InstaAstro raised Rs 3.2 crore in November 2021 in a seed round led by Ramakant Sharma’s LogX Ventures and Artha Venture Fund.

With the help of new funding, InstaAstro is starting daily poojas, reiki healing services, and new spiritual e-commerce. The company claims that these services would increase user engagement on the platform and give users access to a vast astrological and spiritual guidance ecosystem.

InstaAstro, which was founded by Nitin Verma, states that it has over 200,000 monthly app installs, 50,000 minutes of daily consultation time, and a $5 million annual revenue. It provides numerology, tarot readings, and horoscopes in Hindi, English, and a number of other regional languages.

With more than 5 million users overall, the startup offered its subscribers a cumulative consultation of more than 2 crore (20 million) minutes in FY24. 1,500 astrologers use the company’s platform.

GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi are competitors.

Many startups in the astro and spiritual tech space have raised money in the last year. Among them were AstroTalk, Vama, Utsav, Melooha, DevDham (formerly DevDarshan), and Vama. Bodhi is also in talks to raise a new round, according to sources cited by Entrackr. Among the astrological and spiritual tech startups, AstroTalk has raised the most money—$20 million.