Elev8 Venture Partners, a Bangalore-based growth-stage fund, proudly announces its second investment from its maiden fund into Astrotalk. This investment round totals INR 110 crores (USD 14 million), led by Elev8, who has invested INR 55 crores (USD 7 million) and includes a mix of primary and secondary investments.
Founded in 2017, Astrotalk has rapidly grown to become India’s largest online platform for astrology and mental wellness. The platform boasts over 5 million active users and over 1,000,000 monthly transacting users, making it one of India’s most active internet-based platforms. While primarily serving Indian customers, the company is quickly expanding its global presence. The high degree of repeat users returning to the platform is a testament to their positive experiences. Astrotalk’s Android app has an impressive rating of 4.6 stars from 583,000 reviews, while the iOS app is rated 4.8 stars from 98,100 reviews and is trending as the #2 ranked app in the Lifestyle category in India.
“Puneet and Anmol have done an extraordinary job building such a rapidly growing and substantial organisation in a short period. At Elev8, we firmly believe that there is significant growth potential left for the company. The management has exciting plans to create a high-growth, sustainable organisation in a unique sector. We are thrilled to be part of this journey,” said Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners.
“With Elev8’s support, we have a local domestic institution that believes in our journey and vision. We are advancing our growth plans, and will be launching newer apps , geographies & categories this year, thus cementing our position as the largest Spiritual-tech company in India ” said Puneet Gupta, Founder of Astrotalk.
Astrotalk offers a variety of services, including Vedic-based astrology, vastu, tarot card reading, and online puja. Over 20,000 astrologers and spiritual practitioners deliver these services through the platform. Additionally, the company plans to expand its product offerings by selling certified Vedic wearables such as gemstones and crystals.
In recent years, Astrotalk has experienced explosive growth, achieving revenue run rate exceeding INR 1000 crores (USD 125 million) while maintaining high profitability. This financial success underscores the company’s robust business model and the growing demand for spiritual and mental wellness services.
With the funds raised, Astrotalk plans to expand its offerings in regional languages and formats, increase its global presence, and expand its team. These initiatives aim to enhance the user experience, making Astrotalk more accessible and versatile for a diverse audience.