Samreen Ahmad · · 1 min readStars align for Astrotalk as it nets $20m fund for international expansion
The Astrotalk team / Photo credit: Astrotalk
The Indian astrology market is expected to reach US$25 billion by next year.
Astrotalk is one of the companies looking to capitalize on this growth. Founded in 2017 by Puneet Gupta and Anmol Jain, the spiritual tech startup connects consumers with over 15,000 astrologers for services such as horoscope reading, birth chart analysis, and virtual prayer.
The profitable startup has also raised US$20 million in a series A round from New York-based Left Lane Capital to fuel growth. Now it plans to hunt for strategic acquisitions to expand into international markets, develop new business verticals, and recruit senior leadership positions.
Astrotalk aims to tap into markets such as Canada, the Middle East, the UK, and the US.
The platform also claimed to record over 100% year-on-year revenue growth in the last three years and an annual recurring revenue of US$96 million in the financial year ending 2024.
“One-on-one consultations stand to be approximately 95% of our revenue with about 20% of the revenues coming from outside of India,” said Gupta, Astrotalk’s founder and CEO.
Earlier, Tech in Asia had reported that the startup was eyeing a US$40 million pre-IPO or growth round.
See also: An Indian astrology startup turning prophecy into profits
Editing by Miguel Cordon and Dhania Putri Sarahtika
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