Astrotalk, a digital astrology consulting service based in Noida, has secured USD 9.4 million in the latest funding round from existing investor Left Lane Capital and new investor Elev8 Venture Partners.
This investment comes after Left Lane Capital's USD 20 million investment in February, marking Astrotalk's first institutional funding round. The funding will support Astrotalk's expansion into international markets such as the US, the UK, Canada and west Asia, aiming to increase its current 20 per cent revenue from international sources.
The company's valuation after this investment is around Rs 2,500 crore (USD 300 million). Astrotalk aims to achieve a revenue of Rs 620-630 crore with a profit of Rs 120 crore by the end of March 2024, compared to the Rs 283 crore revenue in FY23. It operates on a revenue-sharing model with over 10,000 active astrologers, offering consultation sessions ranging from Rs 10 to Rs 200 per minute. Elev8 Venture Partners, led by Navin Honagudi, joins Astrotalk's investors in this round.
The company manages a monthly volume of 30 lakh sessions, primarily related to marriage and employment inquiries. Astrotalk has expanded its services to include e-puja and is focused on strengthening its presence in south India.
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