Spiritual tech startup Vama has raised ₹190.3 million (approximately US$2.1 million) in an ongoing Pre-Series A round. Writers and Publishers Private Limited, the family office of Dainik Bhaskar, led the investment. The Delhi-based company gives devotees access to temple services, astrology consultations, and spiritual products.
Deal terms
The family office contributed ₹125 million, while other investors added ₹65.3 million. Wavemaker Partners, Silver Needle Ventures, Harit Nagpal, Swati Parikh, Vinay Mittal, and Nikhil Bhandarkar joined the round. The company issued 3,452 compulsorily convertible preference shares at ₹55,134.39 per share.
Company and revenue mix
Vama was founded in 2020 by Acharya Dev and Manu Jain. Temple services account for around 70% of its revenue, while astrology and Vama Mall contribute the rest. The latest allotment values the startup at roughly ₹1.8 billion, up 20% from its previous Pre-Series A valuation of ₹1.5 billion.
Platform and investor support
Vama's platform gives devotees access to temple services, astrology consultations, and spiritual products. Users can book temple services, consult astrologers, and shop on Vama Mall. Dainik Bhaskar's presence in Hindi-speaking markets could help the startup reach more temples and service providers.
The round appears to be ongoing, and the company may raise more capital in later tranches. After the allotment, Dainik Bhaskar's family office holds a 6.98% stake in Vama. Co-founders Manu Jain and Acharya Dev hold 14.44% and 14.43% stakes, respectively.
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