Spiritual Tech Start-up Astrotalk Secures USD 14 Mn From Elev8 Venture Partners

New Delhi, Jun 5 (KNN) Astrotalk has raised USD 14 million in a new funding round led by Elev8 Venture Partners, a USD 200 million growth-stage fund. Elev8 contributed USD 7 million, with the remainder coming from a mix of primary and secondary investments.

"Puneet and Anmol have done an extraordinary job rapidly building a substantial organisation in a short period," said Navin Honagudi, Managing Director and Founding General Partner, Elev8 Venture Partners.

He mentioned, "We firmly believe there is significant growth potential left for the company to create a high-growth, sustainable business in this unique sector."

Founded in 2017 by Anmol Jain and Puneet Gupta, Astrotalk provides online astrology consultations, vastu services, tarot readings, and puja ceremonies facilitated through its platform of over 20,000 astrologers.

The company reports having over 4.5 million active users and 750,000 monthly transacting users.

In addition to its core services, Astrotalk plans to expand into selling vedic products like gemstones and crystals certified for astrological purposes.

"With Elev8's support as a domestic institution backing our journey and vision, we are advancing growth plans for Astrotalk to become a global category leader," said co-founder Puneet Gupta.

Backed by South Korea's KB Investment, Elev8 Venture Partners invests in B2B SaaS, enterprise tech, consumer tech, fintech, and healthcare start-ups positioned for international expansion.

Consultancy Redseer estimates India's online astrology market could grow from USD 102-106 million in fiscal 2024 to USD 930 million-USD 1.07 billion by fiscal 2030.

(KNN Bureau)