Astrotalk: Astrotalk raises $9.4 million from Left Lane Capital, Elev8 Venture Partners

Noida-based Astrotalk, which provides digital astrology consulting services, has raised $9.4 million in an ongoing funding round from existing investor Left Lane Capital and new investor Elev8 Venture Partners, as per documents sourced from the Registrar of Companies.New York-based venture capital firm Left Lane Capital had invested $20 million in Astrotalk in February – in what was the startup’s maiden institutional funding round.

The fresh funding has come at a time when Astrotalk is looking to expand its reach in overseas markets such as the US, the UK, Canada and west Asia. Currently, Astrotalk gets around 20% of its revenue from international markets.

The latest capital infusion has happened at a valuation of around Rs 2,500 crore ($300 million) after the investment.

ET had reported earlier that the company was targeting a revenue of Rs 620-630 crore with a profit of Rs 120 crore in the fiscal ended March 2024, compared to Rs 283 crore clocked in FY23. It posted a net profit of Rs 27 crore during fiscal 2023.

Astrotalk operates on a revenue-sharing model with the over-10,000 active astrologers on its platform. Its pricing structure ranges from Rs 10 to Rs 200 per minute, averaging around Rs 20-25.

Bengaluru-based Elev8 Venture Partners, which joins Astrotalk’s capitalisation table with this round, was set up by Navin Honagudi, who had earlier cofounded Kae Capital.The development was first reported by Entrackr.

Astrotalk handles a monthly volume of 30 lakh sessions between its customers and astrologers, the bulk of which are marriage-related consultations, followed by inquiries about employment.

The company recently expanded its services to include e-puja, entering a competitive field with other players like Vama, Utsav and DevDham (formerly DevDarshan).

It is also looking to increase its penetration in south India, which the company believes to be untapped from an online astrology point of view.