Astrotalk gets Rs 55 crore funding from Elev8 Venture Partners

Online astrology and mental wellness platform Astrotalk has received capital to the tune of Rs 55 crore ($7 million) from Bengaluru-based Elev8 Venture Partners.  

The development marks the second investment by Elev8 Venture Partners from its maiden fund into the company, according to a statement. 

This investment round totals Rs 110 crore ($14 million), led by Elev8, which has invested Rs 55 crore and includes a mix of primary and secondary investments, it said.

"At Elev8, we firmly believe that there is significant growth potential left for the company," said Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners, a Bengaluru-based growth-stage fund that invests in high-growth startups in India with the potential to scale globally. 

The management has exciting plans to create a high-growth, sustainable organisation in a unique sector, Honagudi further said. 

The fund focuses on sectors such as B2B software as a service (SaaS), consumer technology, enterprise technology and fintech.

What does Astrotalk plan to do with the funds?

Astrotalk plans to expand its offerings in regional languages and formats, increase its global presence, and expand its team.

"With Elev8's support, we have a local domestic institution that believes in our journey and vision," said Astrotalk Founder Puneet Gupta.

"We are advancing our growth plans, and will be launching newer apps, geographies and categories this year, thus cementing our position as the largest Spiritual-tech company in India," Gupta added. 

What is Astrotalk and what does it do?

Astrotalk is an online astrology prediction portal. boasting more than 13,000 vedic astrologers, tarot readers, numerologists, vastu experts, according to its website.

With inputs from PTI

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