By Inc42 Media
Astrotalk raised INR 78.3 Cr ($9.5 Mn) in an extended Series A funding round from Left Lane Capital and Elev8 Capital
The company’s board has passed a special resolution to issue 5,067 compulsory convertible preference shares
The company is also in talks to raise $30 Mn
Online astrology platform Astrotalk raised INR 78.3 Cr ($9.5 Mn) in an extended Series A funding round from its existing investors Left Lane Capital and Elev8 Capital.
The company’s board has passed a special resolution to issue 5,067 compulsory convertible preference shares to raise INR 78.3 Cr, as per its filing.
The company’s board initially approved to raise above INR 58 Cr (more than $7 Mn) from Left Lane Capital and about INR 20 Cr (about $2.4 Mn) from Elev8 Capital, the filings said as viewed by Inc42.
Besides, reports verified by Inc42 revealed Astrotalk has received INR 58 Cr from Left Lane, while the funding from Elev8 is still due.
The company is also in talks to raise $30 Mn.
Astrotalk, founded by Puneet Gupta and Anmol Jain in 2017, is an online astrology company that offers fortune telling services to its target audience.
The company works to provide one-on-one service to its users. To be sure, 90% of Astrotalk’s revenue comes from these consultations, where users pay per minute to talk to astrologers.
Earlier this year, the Delhi NCR-based company raised $20 Mn in its Series A funding round from Left Lane Capital. Back then it said that the funds would be used for strategic acquisitions to expand in international markets, solidify new business verticals, and hire senior leadership roles.
As per Astrotalk’s audited FY23 financials accessed by Inc42, the company has reported revenue of INR 282 Cr with a profit of INR 27 Cr in the last fiscal year.