What technology can give astrology startup companies in India an opportunity to grow

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Indian astrology , believed to be as ancient as the Vedas and Upanishads have been integral part of the human experience for generations. We continuously search for stories that to connect both the present and the future has turned astrology into an industry worth billions of dollars.

COVID-19 and the resulting anxieties and uncertainties resulted in a rise in the number of people seeking reassurance by studying the motions and relative locations of the celestial body.

“Astrology has always been one of the most consumed forms of content in India,” says Manu Jain, co-founder of VAMA the app for astrolog

According to visiting faculty members at the department of astrology at Ranchi University, he has up to 20 telephone consultations each day on average. It is evident that astrology is a field that has always been in lots of trust and dem

“However, due to so many ingenuine astrologers in the market, customers lacked trust in reaching out to an astrologer,” says Puneet Gupta who is the founder of AstroTalk, an app that focuses on astrology. AstroTalk

Astrotech startups are using the power of machine learning (ML) and artificial intelligence (AI) as well as software for data analysis to provide accurate assessments.

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The mass adoption of technology and the tech-push

In accordance with the EMRreport The Indian market for religious and spiritual services was worth $44 billion by 2020. It is predicted to expand at a rate of 10% between 2022 and 2027. Kalpesh Shah is the chief executive officer of MyPandit is an app for astrology, claims that convenience, anonymity, and price are three major reasons for the rapid acceptance of technology-based astrology services.

The ever-changing startup ecosystem, the high mobile phone usage, the increased accessibility of broadband services and the rise of tech-savvy consumers have all contributed to the increase. The digitization of astrology-related services via apps is a new trend which has led to live chat and calls with astrologers becoming popular services.

According to AstroTalk that about 60 percent of the revenue is derived from conversations with astrologers, and around 35% is from calls.

The globalization of the sector is in the works, Sanil says, and will likely welcome the attention of investors from around the world to the sector, while also revealing significant user-base potential for rival startups.

Synopsis of investment

According to the data platform Tracxn, a data platform the number of companies in the astrology sector is around 250 businesses operating in the field of astrology from which 241 are in operation.

In the last few years, investments in the field has experienced an impressive increase in investment. Since the beginning of 2019 the field of astrology has attracted approximately $5.51 million from 15 round of funding.

Sanil says that, since there are a handful of venture capitalists have backed AstroTech startups have grown in India Investors expect to see them develop in terms of user behavior and catalogue of services. “This will eventually lead to some interesting growth stage investments which will further cement the monetisation capability of the startups,” Sanil says.

Puneet and states that more than 3 million users have contacted the company to date He believes that investors will begin pouring into this industry soon since this is one of the sectors that is not susceptible to recession as well as has positive economic unit growth.

“Moreover, with increasing trust, this industry has a TAM (Total Available Market) of $100 billion when it expands globally,” He states.

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