Astrotalk raises $20 million in Series A funding

CHENNAI: Spiritual tech startup Astrotalk has raised $20 million in Series A from New York-based venture capital firm Left Lane Capital. With this, the startup has raised around Rs 166 crore in total funding till date.

Founded in 2017 by Puneet Gupta and Anmol Jain, Astrotalk is a global marketplace that connects consumers with astrologers for horoscope readings, birth chart analysis, live prayers and more. The platform claims more than 15,000 active astrologers and says it has served more than four crore users till date.

The funds will be used for acquisitions and global expansion, and the startup said it is "actively looking at" companies in the devotional segment. The team is also planning to launch a host of services around devotion in the next few months. Astrotalk is eyeing expansion across the US, Canada, the UK and the Middle East. It is also looking to expand to and localize its operations in South India, the team said.

"The current ARR of Astrotalk is about Rs 750 crore; we are profitable and will close the current fiscal year at a profit of Rs 125 crore," Puneet Gupta, founder and CEO of Astrotalk, told TOI.

"One-on-one consultations stand to be approximately 95% of our revenue with about 20% of the revenues coming from outside of India," he added.

The company is targeting 2x revenues in the next financial year, with about 35% of revenue coming from outside India. The employee headcount, currently at 200, is expected to increase with the new funding round. Additionally, the company is planning an ESOP buyback to create wealth for its employees.


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