TLDR:
- Astrotalk raised $9.4 million in an extension of its Series A round from existing investors Left Lane Capital and Elev8 Capital.
- The platform is looking to expand its reach in overseas markets and reported significant revenue growth in FY23.
Online astrology platform Astrotalk has secured $9.5 million in funding from existing investors Left Lane Capital and Elev8 Capital, as an extension of its Series A round. This brings the total amount raised by Astrotalk to ₹172 crore. The platform, which already received a $20 million investment from Left Lane Capital earlier this year, is now aiming to expand its operations in overseas markets such as the US, the UK, Canada, and West Asia.
Astrotalk, which boasts a network of 13,000 astrologers, tarot readers, numerologists, and Vastu experts, allows users to connect with these professionals for future predictions related to various aspects of their lives, including marriage, love life, career, and health. The platform generates around 20% of its revenue from international markets.
In FY23, Astrotalk reported revenues of ₹282 crore, marking a significant 145% year-on-year growth compared to the previous year. The company also saw its profit after tax (PAT) increase to ₹27 crore in FY23. With its current growth trajectory, Astrotalk anticipates achieving a revenue of ₹600 crore by the end of FY 24, with a PAT of ₹100 crore.
This latest funding round not only provides Astrotalk with the necessary capital to expand globally but also underscores the increasing demand for online astrology services and the platform’s ability to capitalize on this growing market.
