AstroTalk raises $9.5 million from Left Lane Capital and Elev8 Capital

Funding Alert

Online astrology platform AstroTalk has successfully raised Rs 78.3 million (approx. USD 9.5 million) in the expansion of its Series A funding round. The latest investment comes from existing investors Left Lane Capital and Elev8 Capital, as reported by Entrackr.

AstroTalk’s board of directors approved a special resolution to issue 5,067 mandatory convertible preferred shares to raise funds in accordance with regulatory filings. The recent capital injection valued the company at around 2,500 crore rupees ($300 million).

Left Lane Capital contributed Rs 58.3 crore while Elev8 Capital added Rs 20 crore. This round of funding appears to be part of a larger effort, with AstroTalk reportedly in discussions to raise $30 million.

The funding boost comes as AstroTalk plans to expand into overseas markets, including the US, UK, Canada and West Asia, an Economic Times report said. Currently, 20 percent of the company’s revenue comes from international markets.

AstroTalk operates on a revenue sharing model and boasts over 10,000 active users. The price range of the services is wide ranging from Rs.10 to Rs.200. «With a gigantic pool of over 13,000 Vedic astrologers, tarot readers, numerologists, Vastu experts and more, Astrotalk allows you to connect with these experts through call and chat and get answers to all your problems,» says the company’s website.

The platform enables over 1,000 minutes of daily consultations and has recently expanded into the e-puja segment. The company’s extensive network includes more than 13,000 astrologers.

The astrology market in India is experiencing significant growth. Several other online astrology platforms such as Astroyogi, Astro Sage and Indian Astrology are also capitalizing on this trend. According to a report by Redseer Strategy Consultants, India’s faith and religious products market, currently valued at over $350 billion, is ripe for technological disruption across segments.

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