AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture
Bengaluru
: Online dedication application raised Appsforbharat, which runs Sri Mandir LaIn a C series financing tour led by Susquehanna Asia Code Capital, 175 Crore, existing investors with the participation of NANDAN Nilekani’s funntum, height capital and Peak XV Partners.
The primary financing tour values the Bengaluru -based initiative, according to a person who has knowledge of the issue, to $ 175 million. The company collected $ 18 million from Fundamentum and other investors in September. Appsforbharat refused to comment on valuation.
Company has passed the income ratio LaFounder and General Manager Prashant Sachan Mint, in his statement, in 25 financial years 100 Crore and 5.2 million online pujas and offers in more than 70 temples throughout India facilitated.
The application also has a significant global presence with approximately 20% of the demand from the Indian Diaspora living in the USA, UK, UAE, Canada, Australia and New Zealand.
Expansion to temple towns
The company will deposit some of the funds in more than 20 temples in India, strengthen its services and trade sectors, create fulfillment and logistics centers, and create features that are led by AI to support user participation.
The company will also increase local recruitment and fuel employment production in temple towns to carry out and manage the operations of these centers. On the Adanan side, Sri Mandir develops AI tools that help users to navigate, answer queries, keep users by hand through pujas, rituals and festivals, and to propose personalized spiritual content.
Founded by Sachan in November 2020, AppSforbharat launched a flagship application with the mission of dedication to people in India and abroad and helping their spiritual journeys.
Belief-technology acceleration
According to the market intelligence platform Tracxn, belief-technology initiatives gain momentum in India, and these digital platforms rise from total to $ 4.3 million in 2023 to $ 50.7 million in 2023.
“We grew 2X in the last 6 months and we could create an important value for our temple partners and dedicated. We did not only bring convenience, comfort and satisfaction to our dedicated, but more importantly, we have provided the services in the Temple towns, we have achieved consistently income throughout the year for priests, local sellers and service providers.
The attractiveness of these platforms lies in Gen Z (born between 1997-2012) and Millennial (1981-1996) in their ability to meet the increasing spirituality and alternative health demand among consumers.
Roughly, 30% of Appsforbharat users are from the 25 to 35 age group. Mint Reported last year.
