AstroTalk Raises $9.5 Million from Left Lane Capital and Elev8 Capital

Online astrology platform AstroTalk has successfully raised Rs 78.3 crore (approximately $9.5 million) in an extension of its Series A funding round. The latest investment comes from existing investors Left Lane Capital and Elev8 Capital, as reported by Entrackr.

AstroTalk’s board has approved a special resolution to issue 5,067 compulsory convertible preference shares to raise the funds, as per regulatory filings. The recent capital injection values the company at about Rs 2,500 crore ($300 million).

Left Lane Capital contributed Rs 58.3 crore, while Elev8 Capital added Rs 20 crore. This funding round appears to be part of a larger effort, with AstroTalk reportedly in discussions to raise $30 million.

The funding boost comes as AstroTalk plans to expand into overseas markets, including the US, the UK, Canada, and West Asia, according to a report by the Economic Times. Currently, 20 percent of the company’s revenue is derived from international markets.

AstroTalk operates on a revenue-sharing model and boasts over 10,000 active users. The pricing range for services is wide, from Rs 10 to Rs 200. “With a gigantic pool of 13000+ Vedic astrologers, Tarot readers, numerologists, Vastu experts, and more, Astrotalk lets you connect with these experts over call and chat and get answers to all your problems,” states the company website.

The platform facilitates over 1 lakh minutes of daily consultations and has recently expanded into the e-puja segment. The company’s extensive network includes more than 13,000 astrologers.

The astrology market in India is experiencing significant growth. Several other online astrology platforms, such as Astroyogi, Astro Sage, and Indian Astrology, are also capitalizing on this trend. According to a report by Redseer Strategy Consultants, India’s faith and religious products market, currently valued at over $350 billion, is ripe for tech disruption across various segments.