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.
“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.
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.