about half a dozen startup has launched Apps In Astrology, HoroscopeThe palm-reading and numerology sections from last year, riding on the growing appetite of Indians want to increasingly crystal-gaze amid the uncertainty caused by the pandemic.

It accounts for 18 startups or nearly a third of the overall universe in the online astrology and spiritual wellness segment in India, according to the latest data from Tracxn, a market intelligence provider for private company data.

While astrology has been popular in the country for ages, with increasing online reach and availability of experts, awareness among millennials who are willing to adapt and experiment with the mystical air around astrology to seek life guidance is at its unprecedented high. , say the companies.

“NS global pandemic Has been an accelerator and we were pushed to our limits of tolerance and patience with ever playing human behaviors. Jikku Abraham, Co-Founder, Taraka, said, “Mental health needs have become quite evident with everyone receiving guidance and counseling in their consciousness, leading to a surge in demand.

Furthermore, unlike traditional birth charts, these startups use machine learning, artificial intelligence and data analyst software to study planetary bodies, zodiac signs and unique cosmic signatures and predict career and personal growth.

Founder Gaurav Tiwari said, “The pandemic has created situations that have pushed many people to the point of depression to such an extent that they need outside help to maintain their sanity. Most of that outside help in India. Normally it is to seek the help of God.” Facilitator’s, Titan Capital backed spiritual and devotional content provider.

According to Tracxn, around 10 such firms have cumulatively raised Rs 130 crore since the beginning of 2020, which is three times the combined amount raised by such startups in the last five years.

“When you look at Bhakti or Spirituality as a category in India, it is easy to get growth. But what is difficult is getting high quality engagement. We are building something as a very first principle “We are trying to move a large offline behavior online. And we are solving it in a very retention way in a first way,” said Prashant Sachan, co-founder of AppsForBharat, a product studio for spiritual and devotional content. he said.
Raised $10 million in Series A funding last month The round was led by Elevation Capital along with existing investors Sequoia Capital India, Binext as well as Matrix Partners India.

Since last year, several apps in this domain have seen a 40-400% month-on-month growth rate, with at least ten apps each with over 10 million downloads. “This is a one-time behavior where we saw that in a market that was already written off, some big funds have put bets. Now it will also have a downstream effect, where a lot of people will say there is market opportunity and We should also fund companies in this sector. But be careful,” Sachan said.

That’s because data shows that despite the astro frenzy, the alignment of stars and planets is still off-putting for more than 40, or about three-quarters, of companies that haven’t received any funding yet.