AppsForBharat Raises $17.8 Million in Series B Funding

Spiritual technology startup AppsForBharat, the parent company of the devotional platform Sri Mandir, has secured $17.8 million in Series B funding. 

The round was led by Fundamentum, with Susquehanna Asia joining as a new investor, alongside existing backers Elevation Capital, Peak XV, and Mirae Asset VC. This substantial investment will be utilized to expand the reach of the Sri Mandir app, both domestically and internationally, while also enhancing its digital offerings.

Sri Mandir, founded in November 2020 by serial entrepreneur and IIT Bombay alumnus Prashant Sachan, has positioned itself as a leader in the spiritual tech space by providing a comprehensive platform for devotees. With access to over 50 temples across India, the app allows users to participate in religious rituals such as pujas and chadhava (offering of goods) digitally. Since its launch in 2021, the app has amassed more than 30 million downloads and facilitated 27 lakh pujas for over 5 lakh devotees, marking a significant shift in how spirituality is practiced in the digital age.

As part of its growth strategy, AppsForBharat aims to scale its operations significantly over the next year. Prashant Sachan outlined plans to expand the temple network from 50 to 500, introduce services like spiritual tourism and special Darshan tickets, and offer seamless Prasad delivery. He also highlighted that the app will soon be available in five additional regional languages, enhancing accessibility for users beyond the current English and Hindi options.

This latest funding round underscores a broader trend in the spiritual and astrology app market, which has seen exponential growth in the post-pandemic world. The likes of Astrotalk, Vama.app, DevDham, and Utsav have also attracted significant venture capital as the digitalization of spirituality gains momentum. The global pandemic has accelerated demand for virtual access to religious and spiritual experiences, allowing startups like AppsForBharat to flourish by bridging the gap between tradition and technology.

Fundamentum’s Ashish Kumar, the lead investor in the Series B round, emphasized the vast potential of India’s $50 billion devotional sector. He noted that this space is ripe for digital transformation, with Sri Mandir at the forefront. “The comprehensive digital experience that AppsForBharat offers to devotees has seen rapid adoption not just among young adults but also older generations, signaling both long-term scalability and the potential for global use cases,” said Kumar.

With an eye on international expansion, Sri Mandir will be scaling its operations in key markets such as the US, UK, and Canada. As India’s influence in the global spiritual and cultural landscape grows, there is rising demand among the diaspora for access to devotional services from their homeland. Sachan and his team are keen to capitalize on this by providing a unified platform that serves the spiritual needs of Indians both at home and abroad.

The rise of spiritual tech startups like AppsForBharat represents a significant shift in how traditional religious practices are being reimagined for the digital age. By offering an end-to-end devotional experience, from online rituals to spiritual tourism, the company is not only tapping into a massive market but also fostering a deeper connection between devotees and their faith, transcending geographical and physical boundaries.