AstroTalk raises $9.5 Mn at a valuation of $300 Mn

Astrology platform astrotalk

Astrology platform AstroTalk has raised Rs 78.3 crore or $9.5 million 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 or $9.5 million, its regulatory filing accessed from the RoC shows.

Lane Capital Contributed Rs 58.3 crore while Elev8 Capital participated with Rs 20 crore. This seems to be the part of a larger round. AstroTalk is reportedly in talks to raise $30 million. The company has been valued at around Rs 2,478 crore or $300 million post-money which is a 33.3% increase from its last round. The valuation will go up with the flow of funds.

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AstroTalk has raised Rs 172 crore to date including Rs 166 crore or $20 million in its Series A round in February.

AstroTalk 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 has a network of experts and offers predictions and consultations on various topics such as marriage, career, love life and health.

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.

According to report they can enhance and make their service more user friendly.

 

 

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