Feb, 12: AstroTalk, an online Astrology predictions platform startup has raised $20 million to expand its footprints in new markets world wide, acquire senior leadership talents, develop new devotionofferings, and expand into South Indian cities. The New Delhi based firm is also aiming an ESOP buyback from its employees, after concluding the fundraise.
AstroTalk to launch new offerings
On the fund raising closure Puneet Gupta, Founder and CEO of Astrotalk stated “[Astrotalk is…] eyeing expansion across the US, Canada, UK and the Middle East. One-on-one consultations stand to be approximately 95% of our revenue with about 20% of the revenues coming from outside of India.”
The startup in 2017 founded by Gupta after a senior lady colleague at the bank he was working at, who was an amateur astrologer, convinced him to give his date of birth details. After looking into his birth charts, she predicted that he would have a brilliant career for two years, but his co-founder would leave the firm—which happened.
Following this outcome, it struck Gupta that he could start an astrology startup as many people like him wanted to talk to a future predictor but did not know how to approach them. AstroTalk uses technology to bring together astrologers and customers onto one platform with a key focus on privacy.
Gupta bootstrapped AstroTalk in its seed stage. It recorded an annual recurring revenue of Rs 800 crore in 2023-24. Further, it reported a profit in FY23 jumped 41.7% to Rs 8.5 crore, from Rs 6 crore a year ago. Astrotalk has 15,000 astrologers and 4 crore active users on its platform.
The Series A round was raised from New York-based venture capital firm, Left Lane.