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Last updated: 17 May, 2024  

Dollar.Thmb.jpg InstaAstro raises $2.30m in pre-series A led by Artha Venture Fund

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Press Release | 17 May, 2024

InstaAstro, a leading online astrology platform, has raised ₹18.50 crores in a Pre Series A round led by Artha Venture Fund. The round has also been supported by a consortium of visionary investors, reflecting a shared belief in InstaAstro's potential to revolutionize the spiritual and astrological space.

InstaAstro’s current round saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund and industry luminary Aloke Bajpai, MD & CEO of Ixigo.

InstaAstro, founded by Nitin Verma, an IIT graduate and seasoned entrepreneur, has swiftly become a powerhouse in online astrology. In just three years, it boasts over 200,000 monthly app installs, 50,000+ minutes per day in consultations, and an ARR of $5 million. Besides, InstaAstro offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages.

Anirudh A Damani, Managing Partner, Artha Venture Fund, adds, "Astrology remains a subject of interest and cuts across economic classes. InstaAstro is rightly positioned to capture a large share of the astrology market by providing reliable and affordable access to its consumers. The online astrology market is ready for disruption, and InstaAstro’s differentiated offerings are reflected in the rapid yet sustainable growth of its revenues.”

InstaAstro has a total user base of over 50 lakh users and provided a cumulative consultation of more than 2 crore minutes to its subscribers in FY24. The company has 1500 astrologers on its platform. With fresh funds, InstaAstro is launching new spiritual e-commerce, Daily Pooja, and Reiki healing services. These offerings would deepen the platform's user engagement and provide access to a comprehensive spiritual and astrological guidance ecosystem.

Commenting on the launch of the new services, Nitin Verma, Founder CEO, InstaAstro, says, "Navigating the cosmic journey of growth with our recent ARR achievement and the trust placed in us by our esteemed investors is exhilarating. Our new services are just the beginning. We're poised for global expansion, aiming to connect more deeply with spiritual seekers worldwide."

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