3rd June 2024- Astrotalk, an online astrology platform, has raised INR 78.3 Cr ($9.5 Mn) in an extended Series A funding round from existing investors Left Lane Capital and Elev8 Capital. The company’s board passed a special resolution to issue 5,067 compulsory convertible preference shares, as per its filing.
Initially approved to raise over INR 58 Cr ($7 Mn) from Left Lane Capital and about INR 20 Cr ($2.4 Mn) from Elev8 Capital, Astrotalk received INR 58 Cr from Left Lane, with the Elev8 funding pending. Additionally, the company is in discussions to raise $30 Mn.
Founded by Puneet Gupta and Anmol Jain in 2017, Astrotalk offers fortune-telling services, with 90% of its revenue stemming from one-on-one consultations, where users pay per minute to speak with astrologers.
Earlier this year, the Delhi NCR-based startup raised $20 Mn in its Series A funding round from Left Lane Capital. The funds are earmarked for strategic acquisitions, international expansion, new business verticals, and senior leadership hires.
According to Astrotalk’s audited FY23 financials, the company reported revenue of INR 282 Cr with a profit of INR 27 Cr, signaling robust growth and financial stability.
The latest funding infusion underscores investor confidence in Astrotalk’s business model and growth trajectory, poised to capitalize on the increasing demand for online astrology services.
Source:Link
