AstroTalk Secures 160 Crore Funding from Left Lane Capital


AstroTalk, a pioneering spiritual tech startup, has announced a significant milestone by securing a $20 million investment in a Series A funding round led by Left Lane Capital, a prominent venture capital firm based in New York known for backing high-growth consumer and internet technology enterprises.


This funding round marks a watershed moment in India’s spiritual-tech sector, standing out as one of the most significant investments in the industry thus far.


AstroTalk intends to utilize this substantial capital infusion for strategic initiatives, including targeted acquisitions to expand its footprint in international markets, diversify into new business verticals, and recruit seasoned professionals to key leadership positions, as outlined in the company’s official press release.


Established in 2017 by Puneet Gupta and Anmol Jain, AstroTalk has emerged as a leading platform connecting consumers with astrologers for various services, from horoscope readings to birth chart analysis and live prayers. The platform boasts an impressive network of over 15,000 active astrologers and recently catered to over 40 million users.


Commenting on the development, Puneet Gupta, the founder and CEO of AstroTalk, emphasized the company’s global ambitions, stating, “AstroTalk is a ‘Made in India, Built for the World’ enterprise, with aspirations for expansion across key markets including the US, Canada, UK, and the Middle East. Individual consultations constitute approximately 95% of our revenue, with a significant portion – around 20% – derived from outside India.”


The company is currently focusing on assembling a robust leadership team to spearhead its foray into new business verticals and actively bolster its workforce through strategic hiring initiatives. Furthermore, AstroTalk is gearing up for an Employee Stock Ownership Plan (ESOP) buyback program to foster employee wealth creation opportunities.


AstroTalk’s financial performance underscores its rapid growth trajectory, with an Annual Recurring Revenue (ARR) estimated at approximately Rs 800 crore for FY24 and a remarkable 100% year-on-year revenue expansion over the past three years.


According to the company’s latest financial disclosures, revenue surged by an impressive 146% to Rs 283 crore in FY23 and a 41.7% increase in profits to Rs 8.5 crore. AstroTalk projects to achieve Rs 650 Crore in revenue and Rs 100 crore in profits in FY24.


The company faces competition from players like GaneshaSpeaks, InstraAstro, Click Astro, and Bodhi in the burgeoning spiritual-tech landscape.


Taking it to Linkedin, Astrotalk’s cofounder Anmol Jain expressed his excitement for raising this funding round.