TLDR:
- Elev8 Venture Partners led a $14 million funding round in spiritual tech startup Astrotalk.
- The funding will be used to expand offerings, increase global presence, and grow the team.
Venture capital firm Elev8 Venture Partners has invested $14 million in spiritual technology startup Astrotalk, with Elev8 leading the funding round by contributing $7 million. The investment, which includes a mix of primary and secondary investments, aims to support Astrotalk in its growth and expansion plans. Astrotalk, founded in 2017 by Anmol Jain and Puneet Gupta, boasts over 4.5 million active users, 20,000 astrologers, and 7.5 lakh monthly transacting users. The company offers vedic-based astrology services, vastu, tarot card reading, and online puja, with plans to expand its product line to include certified Vedic wearables such as gemstones and crystals. Elev8’s investment will play a crucial role in advancing Astrotalk’s growth plans and solidifying its position as a category leader in both India and globally. The move comes as part of Elev8 Venture Partners’ $200 million growth-stage fund, focusing on sectors like B2B SaaS, enterprise tech, consumer tech, fintech, and healthcare tech. According to Redseer Strategy Consultants, India’s online astrology market is poised for significant growth, projected to reach $930-1070 million by FY30 from an estimated $102-106 million in FY24.
