Online 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.
A special resolution passed by the board at AstroTalk authorizes the issuance of 5,067 compulsory Convertible preference shares, raising Rs 78.3 crore or $9.5 million, as indicated in its regulatory filing accessed from the RoC.
Left Lane Capital contributed Rs 58.3 crore, while Elev8 Capital participated with Rs 20 crore. This extension appears to be part of a larger fundraising effort, with AstroTalk reportedly in discussions to raise $30 million. TheKredible’s estimates peg the company’s valuation at around Rs 2,478 crore or $300 million post-money, reflecting a 33.3% increase from its previous round. The valuation is expected to rise with the influx of funds.
AstroTalk has raised a total of Rs 172 crore to date, including Rs 166 crore or $20 million in its Series A round in February. The platform, boasting 13,000 astrologers, tarot readers, numerologists, and Vastu experts, allows users to consult experts for future predictions related to marriage, love life, career, and health, among other areas.
In FY23, AstroTalk demonstrated robust financial performance, with revenue surging 146% to Rs 283 crore, accompanied by a 41.7% increase in profits to Rs 8.5 crore. Based on the current average revenue run rate, the company is projected to conclude FY24 with Rs 650 crore in revenue and Rs 100 crore in profit. However, audited financial results for FY24 are pending.