AstroTalk, an online marketplace for astrology solutions, has raised $20 million in its Series A funding round led by Left Lane Capital. The company plans to use the capital to expand into international markets, make acquisitions, and develop its product and business verticals. AstroTalk currently generates 20% of its revenue from outside India and aims to take India’s Vedic sciences globally. It competes with ganeshaspeaks.com, instaastro.com, and astroyogi.com in the domestic market. In FY22-23, AstroTalk recorded revenue of Rs 285 crore, and it aims to hit Rs 600-625 crore in FY24.
AstroTalk, an online marketplace for astrology solutions, has raised $20 million in its Series A funding round led by Left Lane Capital. The funding will be used for acquisitions, expansion into international markets, and the development of its product and business verticals. The company also plans to make deeper inroads into southern India.
Founded in 2017, AstroTalk operates as a marketplace connecting consumers to astrologers for services like horoscope readings and birth chart analysis. It currently has about 15,000 active astrologers and caters to over 4 million consumers per month.
The company aims to take India’s ancient Vedic sciences worldwide and currently generates 20% of its revenue from outside India. “Our aim is to take India’s ancient Vedic sciences across the globe,” said Puneet Gupta, founder and CEO of AstroTalk.
The Series A funding is AstroTalk’s first institutional round. Prior to this, it has been mostly bootstrapped, with a previous investment of Rs 6 crore from Cred’s founder Kunal Shah in August 2021.
In the financial year 2022-23, AstroTalk reported revenue of Rs 285 crore, up from Rs 115 crore in FY22. The company aims to achieve a topline of Rs 600-625 crore in FY24.
Left Lane Capital, the lead investor in the funding round, expressed confidence in AstroTalk’s ability to achieve success on a global playing field. “AstroTalk grew to the local market leader for digital astrology practice in India; we are highly confident in their abilities to achieve similar success on a global playing field,” said Harley Miller, CEO and Managing Partner at Left Lane Capital.
AstroTalk competes with other astrology websites such as ganeshaspeaks.com, instaastro.com, and astroyogi.com in the domestic market. The company plans to expand its operations to the US, Canada, the UK, and the Middle East.
Elluminate Capital served as the exclusive financial advisor to AstroTalk for this funding round.
