AstroTalk Secures $20 Million in Series A Funding to Propel Global Expansion

AstroTalk, the spiritual-tech startup based in New Delhi, has successfully raised $20 million in a Series A funding round led by New York-based venture capital firm Left Lane. The infusion of capital will be utilized to fuel the company’s ambitious plans for international expansion, hiring senior leadership, venturing into new verticals such as devotion offerings, and strengthening its presence in South India. Additionally, the startup intends to initiate an Employee Stock Ownership Plan (ESOP) buyback to reward its workforce following this significant funding milestone.

Puneet Gupta, Founder and CEO of AstroTalk, shared his excitement about the company’s strategic goals, stating, “[AstroTalk is…] eyeing expansion across the US, Canada, UK, and the Middle East. One-on-one consultations stand to be approximately 95% of our revenue with about 20% of the revenues coming from outside of India.”

The genesis of AstroTalk dates back to 2017 when Gupta, inspired by a senior colleague who was an amateur astrologer, delved into the world of astrology by sharing his birth details. The astrologer’s accurate prediction of Gupta’s career trajectory and his co-founder’s departure from their former workplace prompted him to conceive the idea of a tech-driven astrology platform. AstroTalk employs advanced technology to connect astrologers and customers on a single platform, with a primary focus on ensuring privacy for users.

In its initial years, AstroTalk was bootstrapped by Gupta. The startup achieved remarkable success, reaching an annual recurring revenue of Rs 800 crore in the fiscal year 2023-24. Notably, the profit for the financial year 2022-23 witnessed a remarkable surge of 41.7%, reaching Rs 8.5 crore from Rs 6 crore the previous year. Currently boasting a network of 15,000 astrologers and 4 crore active users on its platform, AstroTalk has emerged as a leading player in the spiritual-tech domain.