Astrotalk Bags $9.5 Mn In Extended Series A Funding Round

Share via:


SUMMARY

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.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Astrotalk Bags $9.5 Mn In Extended Series A Funding Round


SUMMARY

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.





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Hoth Therapeutics allocates $1M to Bitcoin as treasury asset

Hoth Therapeutics allocates $1 million to Bitcoin, reflecting...

Shein plans London IPO in 2025

The IPO could value the company at £50.3...

Payment solutions provider PeLocal secures $2m seed funding

The new funds aim to expand the platform...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!