Vama, a faith-tech startup offering virtual spiritual and religious services, has secured Rs 22 crore ($2.47 million) in a Pre-Series A round. The funding was led by Wavemaker Partners, with participation from 500 Global, Sadev Ventures, Venture Catalysts, Silverneedle Ventures, and several angel investors.
The round marks 500 Global’s first investment in Vama, while Wavemaker doubled down after backing the company in 2023. According to Vama, the proceeds will be directed towards expanding new categories, strengthening its e-commerce vertical, scaling marketing, and preparing for international markets. The startup currently operates with contribution margins above 10% and expects to achieve EBITDA profitability as it doubles scale.
Founded in 2020 by Acharya Dev, Himanshu Semwal and Manu Jain, Vama blends tradition with technology, offering devotees access to temple services, astrology consultations, and spiritual products. Its recently launched Vama Mall has seen strong traction, and the company now plans to expand into offline spiritual travel and services targeting the NRI community.
Vama reported revenues of Rs 19.5 crore in FY24, more than doubling year-on-year, and expects similar growth in FY25. Currently, temple services account for 70% of its revenues, while astrology and e-commerce make up the remainder. With a base of 150,000 transacting users, the platform aims to reach 1 million users within two years and increase its temple partnerships from 250 to 500.
The startup faces competition from AppsForBharat, which recently raised $20 million in a Series C round, as well as players like DevDham, Utsav App, Sutradhar, and Ghar Mandir.
Final Take
Vama’s latest fundraise signals strong investor confidence in India’s emerging faith-tech market, where digital devotion is rapidly merging with commerce and global expansion opportunities.
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