CHENNAI: Spiritual technology startup Astrotalk has raised $20 million in Series A from New York-based venture capital firm Left Lane Capital. With this, the startup has collected a total of around Rs 166 crore till date.
Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a global marketplace connecting consumers with astrologers for horoscope readings, birth chart analysis, live prayers and more. The platform claims to have more than 15,000 active astrologers and has served more than four million users to date.
The funds will be used for acquisitions and global expansion, and the startup said it is “actively exploring” companies in the devotional segment. The team also plans to launch a range of worship-related services in the next few months. Astrotalk is looking to expand in the US, Canada, UK and the Middle East. The team also said that the company is also looking to expand and localize its operations in South India.
“Astrotalk’s current ARR is around Rs 750 crore; we are profitable and will close the current financial year with a profit of Rs 125 crore,” Puneet Gupta, founder and CEO of Astrotalk, told TOI.
“One-on-one consultations account for about 95% of our revenue, with about 20% of the revenue coming from outside India,” he added.
The company aims to double its sales in the next fiscal, with about 35% of sales coming from outside India. The number of employees is currently 200 and is expected to increase with the new round of financing. Additionally, the company is planning an ESOP buyback to create wealth for its employees.
Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a global marketplace connecting consumers with astrologers for horoscope readings, birth chart analysis, live prayers and more. The platform claims to have more than 15,000 active astrologers and has served more than four million users to date.
Expand
The funds will be used for acquisitions and global expansion, and the startup said it is “actively exploring” companies in the devotional segment. The team also plans to launch a range of worship-related services in the next few months. Astrotalk is looking to expand in the US, Canada, UK and the Middle East. The team also said that the company is also looking to expand and localize its operations in South India.
“Astrotalk’s current ARR is around Rs 750 crore; we are profitable and will close the current financial year with a profit of Rs 125 crore,” Puneet Gupta, founder and CEO of Astrotalk, told TOI.
“One-on-one consultations account for about 95% of our revenue, with about 20% of the revenue coming from outside India,” he added.
The company aims to double its sales in the next fiscal, with about 35% of sales coming from outside India. The number of employees is currently 200 and is expected to increase with the new round of financing. Additionally, the company is planning an ESOP buyback to create wealth for its employees.
