Astrotalk Secured Rs 78.3 Cr From Left Lane Capital and Elev8 Capital
AstroTalk, an Online astrology platform, has secured Rs 78.3 crore in an extension of its Series A round from existing investors Left Lane Capital and Elev8 Capital.
The board at AstroTalk has passed a special resolution to issue 5,067 compulsory Convertible preference shares to raise Rs 78.3 crore, its regulatory filing accessed from the RoC.
In this funding round, Left Lane Capital infused Rs 58.3 crore while Elev8 Capital participated with Rs 20 crore. This seems to be the tranche of a larger round. AstroTalk is reportedly in talks to raise $30 million.
AstroTalk has raised Rs 172 crore to date which includes Rs 166 crore or $20 million in its Series A round in February.
AstroTalk | Online astrology platform
AstroTalk founded by Puneet Gupta and Anmol Jain in 2017, is a platform to consult astrologers via the internet, call, and chat and claims to have 13,000 astrologers, tarot readers, numerologists, and Vastu experts.
The platform lets users connect with the aforementioned experts for future predictions related to marriage, love life, career, and health among others.
The company works to provide one-on-one service to its users. To be sure, 90% of Astrotalk’s revenue comes from these consultations, where users pay per minute to talk to astrologers.
Furthermore, Left Lane Capital baked firm had demonstrated strong financial performance in FY23 as its revenue grew 146% to Rs 283 crore.
At the same time, AstroTalk’s profits spiked 41.7% to Rs 8.5 crore. As per the current average revenue run rate, the company is projected to end FY24 with Rs 650 crore in revenue and Rs 100 crore in profit. The company is yet to file its audited financial results for FY24.
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