In a significant move within spiritual and astrological guidance, the online astrology platform InstaAstro has announced a successful funding round, raising Rs 18.50 crore (approximately $2.3 million). The investment was led by Artha Venture Fund, with participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund, and Aloke Bajpai, MD & CEO of Ixigo.
This marks the second significant investment from Artha Venture Fund in InstaAstro, following their involvement in a seed round in November 2021, where the platform raised Rs 3.2 crore.
With this fresh capital infusion, InstaAstro is set to expand its offerings, including the launch of new spiritual e-commerce, daily pooja, and Reiki healing services. These additions deepen user engagement and provide a more comprehensive spiritual and astrological guidance ecosystem.
Founded by Nitin Verma, InstaAstro boasts impressive metrics: over 200,000 monthly app installs, 50,000 minutes per day in consultations, and an annual recurring revenue (ARR) of $5 million. The platform offers various services, including horoscopes, tarot readings, and numerology, catering to users in English, Hindi, and various regional languages.
The startup has amassed a user base of over 5 million and facilitated more than 20 million minutes of consultations for its subscribers in FY24 alone. Currently, it hosts 1,500 astrologers on its platform, providing its users with a diverse range of expertise.
In the competitive landscape, InstaAstro faces competition from players like GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi. However, with its recent funding and expansion plans, the platform is poised for further growth and differentiation in the market.
Over the past year, the investment in InstaAstro has added to a series of funding activities within the Astro and spiritual tech sector. Other startups in this space, including AstroTalk, Vama, Utsav, DevDham (previously DevDarshan), and Melooha, have also attracted investor interest. Sources indicate that Bodhi is also in discussions about raising a new round of funding.
Among these, AstroTalk secured the most prominent funding with $20 million, highlighting the growing investor confidence in the potential of spiritual and astrological tech startups. As InstaAstro continues to innovate and expand its services, it aims to solidify its position in this dynamic and evolving market.
