Elev8 Venture Partners, a Bangalore-based growth-stage fund, proudly announced its second investment in Astrotalk from its first fund. The investment round brings the total investment to Rs 1.1 Crore (US$14 Million), a combination of primary and secondary investment. This funding follows a previous round led by Left Lane, which involved investment of Rs 1.6 Crore (US$20 Million).
Founded in 2017, Astrotalk has grown rapidly to become India’s largest online astrology and mental wellness platform. With over 4.5 million active users and over 750,000 transacting users per month, the platform is one of the most active internet-based platforms in India. While primarily serving Indian customers, the company is rapidly expanding its global footprint. The high number of repeat customers returning to the platform is a testament to their positive experience. Astrotalk’s Android app has an impressive 4.6-star rating from 583,000 reviews, while its iOS app has a 4.8-star rating from 98,100 reviews, making it the second most popular app in the lifestyle category in India.
“Puneet and Anmol have done an incredible job of building a strong organization that has grown rapidly in a short space of time. At Elev8, we believe the company still has significant growth potential. The management team has exciting plans to create a high-growth, sustainable organization in a unique space. We are excited to be part of this journey,” he said. Navin Honagudi, Managing Director and Founding General Partner at Elev8 Venture Partners;
“With Elev8’s backing, we now have a national institution that believes in our journey and vision. We are moving ahead with our growth plans and soon Astrotalk will be a category leader not just in India but on the global stage as well,” Astrotalk said. Puneet Gupta, Founder, Astrotalk;
Astrotalk offers a range of services including Vedic astrology, vastu, tarot card readings, online puja, and more. Over 20,000 astrologers and spiritual practitioners are offering these services through the platform. Additionally, the company plans to expand its product portfolio by selling certified Vedic wearables such as gemstones and crystals.
AstroTalk has experienced explosive growth in recent years, achieving revenues of over INR 100 Crore (US$125 Million) while remaining highly profitable. This financial success is a testament to the company’s robust business model and the growing demand for mental and emotional health services.
With the funding, Astrotalk plans to expand its offerings in local languages and formats, increase its global presence, and grow its team — all of which aims to improve user experience and make Astrotalk more accessible and versatile for a diverse audience.
