InstaAstro raises Rs 3.2 crore in a seed round from Artha Venture Fund & LogX Ventures

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Noida based wellness and spiritual service platform, InstaAstrohas raised Rs 3.2 crores in series seed round funding led by Artha Venture Fund in partnership with Ramakant Sharma’s LogX Ventures.

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“The startup will utilize the funds for product development, marketing and add a gamut of services like Live Astrologer session, Remedies, E-Pooja and E-commerce, etc., to its platform – helping them carve a niche in the holistic wellness segment,” the statement said.

InstaAstro offers online predictions and consultancy; and caters to the real-life issues faced by millennials – including career, marriage & relationships, health, finances, and personal growth, amongst other aspects. Through the said services, the start-up aims to offer people peace of mind and assist them during their phase of stress.

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This is Artha Venture Fund (AVF) 12th investment from its recently closed ₹225 crores micro-VC fund.

Speaking on the fundraise, Nitin Verma, Founder & CEO of InstaAstro, said, “After the lockdown, there was a clear ask for professional astrology wellness services that would help consumers deal with the ‘need to solve problems, that promotes mindfulness – an integral part of the mental continuum. Although astrology and other spiritual practices are an integral part of the millennial culture, the fragmented nature with the lack of a standardized process was making it challenging for the consumers to get reliable service that ensured confidentiality.” 

Commenting on the investment in InstaAstro, Anirudh A Damani, Managing Partner of Artha Venture Fund, said, “In a time where consumers are seeking out local spiritual support to resolve their pain points, it was difficult to find a professional solution in an already fragmented market – due to concerns such as authenticity, result-oriented approach, and privacy.

“We were impressed by the team at InstaAstro and how they have leveraged new-age technology to help consumers resolve their real-life problems in a structured manner. Moreover, with their growing roster, the platform could cater to high volumes of queries across the country/globe and use technology to create personalized, engaging experiences and measure outcomes,” he added.

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

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