InstaAstro Secures ₹18.50 Crores in Pre-Series A Funding Led by Artha Venture Fund
- ByStartupStory | May 16, 2024
InstaAstro, a prominent online astrology platform, has successfully raised ₹18.50 crores in a Pre-Series A funding round led by Artha Venture Fund. This investment round also garnered support from a consortium of visionary investors, demonstrating confidence in InstaAstro’s potential to transform the spiritual and astrological landscape.
Founded by Nitin Verma, an IIT graduate and seasoned entrepreneur, InstaAstro has rapidly emerged as a leader in the online astrology domain. Within just three years, the platform has achieved significant milestones, boasting over 200,000 monthly app installations, over 50,000 minutes of consultations daily, and an impressive Annual Recurring Revenue (ARR) of $5 million. InstaAstro provides services such as horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages.
The funding round was marked by participation from notable investors including LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund, and industry luminary Aloke Bajpai, MD & CEO of Ixigo.
Anirudh A Damani, Managing Partner at Artha Venture Fund, expressed enthusiasm about the investment, stating, “Astrology continues to captivate individuals across all economic segments. InstaAstro is strategically positioned to capture a significant portion of the astrology market by offering reliable and affordable services to consumers. The online astrology sector is ripe for disruption, and InstaAstro’s unique offerings have translated into substantial and sustainable revenue growth.”
InstaAstro currently boasts a user base exceeding 5 million users and has facilitated more than 2 crore minutes of consultations to subscribers in the fiscal year 2024. The platform features 1500 astrologers offering personalized services.
With the infusion of fresh capital, InstaAstro is set to launch new spiritual e-commerce offerings, including Daily Pooja and Reiki healing services. These additions are aimed at enhancing user engagement and expanding the platform’s comprehensive spiritual and astrological guidance ecosystem.
Nitin Verma, Founder CEO of InstaAstro, expressed excitement about the platform’s growth trajectory, remarking, “Embarking on this cosmic journey of growth, backed by our recent ARR milestone and the trust of our esteemed investors, is exhilarating. Our new services mark just the beginning of our expansion plans. We are poised for global outreach, aspiring to forge deeper connections with spiritual seekers worldwide.”
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