Lightspeed leads $4m round of Singapore spirituality-focused tech startup

Emerging Vision (EV), a spirituality-focused tech startup based in Singapore, has raised US$4 million in a series A funding round led by Lightspeed.

According to EV, “prominent angel investors” also participated in the round. To date, the startup has raised US$5 million in funding.

Photo credit: Emerging Vision

Founded in 2019, EV provides interactive and face-to-face consultations with astrologers, tarot readers, life coaches, and others. The company has a team of more than 550 astrologers who specialize in areas like palmistry and numerology.

The company has two mobile apps – Guruji on Android and Teller on iOS. These apps offer services such as free live sessions, which are available to the public, as well as private sessions for paid customers.

EV said its apps see 18,000 consultations per month and claimed that Guruji and Teller together generated an annualized revenue run rate of US$6 million – a figure that has grown 500% year on year.

The startup, which has offices in Singapore, India, and the US, plans to use the fresh funds to improve its livestreaming technology and scale up its operations in new and existing markets.

“Although spiritual services involve centuries-old ancient practices that have existed in myriad forms across countries and religions, the market is highly fragmented and traditionally operates offline. Today’s users – especially Gen Z – now yearn for more seamless and accessible, digital-first approaches to improve their well-being,” said EV founder and CEO Alan Cui in a statement.