Noida-based astrology consultancy AstroTalk has achieved a stunning 1,000% surge in profits in FY24. Its profits soared to Rs 99.99 crore and this reflects strong demand for digital astrology services. It is a rare achievement but the journey of AstroTalk also reflects a new era traditional practice into scalable digital ventures.
The revenue of AstroTalk jumped by more than 100% and reached to Rs 651.12 crore. The surge is driven by rapid growth across domestic and international markets. Indian operations have doubled to Rs 529.6 crore and overseas revenue soared 4.2 times to Rs 121.44 crore. Its ability to tap into global interest in the segment has set it apart. Domestic demand remains its bedrock but the surge in international revenue reveals a broader trend that interest in personal wellness is going digital.
The growth story of AstroTalk has been accompanied with challenges such as operational costs reaching to new heights equipped with expenses nearly doubling to Rs 531 crore in FY24. Legal and professional fees took the lion’s share and were up by 103% to Rs 319 crore in the same period. A hefty expenditure points to the complexity of scaling a business that operates at the intersection of personal belief systems and technology.
Investors have taken notice of meteoric rise of the company and a fresh infusion of $9.5 million was witnessed in June 2024. It was an extension of its Series A round led by Left Lane Capital. It raised the valuation to $300 million. Left Lane’s commitment, alongside Elev8 Capital, highlights confidence in its potential. It follows an earlier Series A round of $20 million in February 2024 that was also led by Left Lane.
AstroTalk was founded by Puneet Gupta and Anmol Jain in 2017. It shows the path of technology being used in traditional services to reach consumers worldwide. Its journey signifies redefinition of the belief market when paired with modern technology.
