Sequoia Capital India And Beenext Ventures To Invest $4 Million In AppsForBharat
VC firms Sequoia Capital India and Beenext Ventures are all set to invest in a spiritual startup AppsForBharat.
First reported by Entrackr, citing three sources, Sequoia Capital India and Beenext Ventures are in an advanced stage to pump in $4 million in AppsForBharat.
Started by Prashant Sachan in November 2020, AppsForBharat is on a mission to assist billion Indians in their spiritual journey and help them feel happier, peaceful & more content.
The spiritual startup is developing a range of mobile and web apps, majorly focusing on the spiritual and devotional needs of Indian users.
Presently in stealth mode, the startup’s maiden app would centre around devotional space and provide daily aarti, chalisa, panchang, horoscope, among others, stated one of the sources cited above.
AppsForBharat, which is just a six-month-old company, had already raised about $200K in a seed round from Sequoia Capital India and Trell in April, show regulatory filings.
The religion and spirituality market in India is expected to grow at a CAGR of 10%, as per an Expert Market Research report.
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