Elev8 Venture Partners is the lead investor in the $14 million investment round for the online astrology and mental health platform AstroTalk.
Elev8 has allocated Rs. 20 crore towards primary transactions and Rs. 35 crore towards secondary transactions.
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Reports state that Left Lane Capital, a venture capital firm based in New York, is one of the other investors in the round, having given an extra Rs 55 crore. According to Astrotalk co-founder Puneet Gupta, the funding round, which is already closed, might be categorised as a pre-Series B or Series A extension.
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Astrotalk intends to use the funds to grow its workforce, enhance its worldwide visibility, and broaden its selection of regional languages and formats. It also seeks to enhance accessibility and user experience for a wide range of users.
“Puneet and Anmol have done an extraordinary job building such a rapidly growing and substantial organisation in a short period. At Elev8, we firmly believe that there is significant growth potential left for the company. The management has exciting plans to create a high-growth, sustainable organisation in a unique sector. We are thrilled to be part of this journey,” said Navin Honagudi, Managing Director and Founding General Partner of Elev8 Venture Partners.
About Astrotalk
Astrotalk, founded in 2017, provides astrology and mental wellness services online. Over five million active users and one million monthly transacting users are claimed. It offers Vedic astrology, vaastu, tarot card reading, and online puja with over 20,000 astrologers and spiritual practitioners.
