Virtual Spiritual Platform VAMA Raises $750,000, Touches $1 Million
This round was co-led by Huddle & 7Square Ventures and also saw participation from other prolific leaders and Start-up veterans including Kunal Shah, Founder, CRED, Varun Alagh, Co-Founder & CEO, Mamaearth and more
VAMA, one of India’s fastest-growing virtual platforms that provides easy access to an array of services for one’s religious and spiritual journeys, has raised $750k in a seed funding round. This round was co-led by Huddle & 7Square Ventures and also saw participation from other prolific leaders and Start-up veterans including Kunal Shah, Founder, CRED, Varun Alagh, Co-Founder & CEO, Mamaearth, Harit Nagpal, CEO, Tata Play, Ravijot Singh Chugh, Chief Product Officer, Climb Credit, Archana Priyadarshini, General Partner, PointOne Capital, Ashutosh Valani & Priyank Shah, Co-Founders, Beardo, Umang Kumar, Co-Founder & President, Cardekho.com, Arjun Vaidya, Founder, Dr. Vaidya’s, Rohan Bhargava, Co-Founder, CashKaro, Sameer Guglani, Curator, Supermorpheus, Abhishek Joshi, Business Head, MX Player, Sairee Chahal, Founder, Sheroes and Renu Satti, Ex COO, Paytm among others. The freshly raised capital will be used towards bolstering the product development, introducing new service verticals on the App, as well as acquiring new talent. With this latest round, the Start-up has so far raised a total of $1 Million in funding.
Speaking about the fundraise, Manu Jain, Co-Founder, VAMA said, “The demand for e-pujas and online mandir darshans is here to stay, as more Indians realize the benefits of and embrace digital services. During the pandemic and subsequent lockdowns, our platform saw a huge influx of devotees from all age groups and geographies. VAMA aims to provide divine and fulfilling spiritual experiences to its users and our goal is to offer devotees from all over the world convenient, time-effective, and easy access to Pujas and Darshans in temples located all over India. The latest round of funding will allow us to invest in good talent in Technology among other verticals, that are crucial to offering an unparalleled experience to users.”
Commenting on the fundraise, Himanshu Semwal, Co-Founder, VAMA said, “We are developing a Faith-tech platform with spirituality at its heart. The emphasis is on converting the offline Mandir ecosystem to digital via content-driven products that are engaging, empowering, and habit-forming. While the category appeals to a broader audience, two-thirds of our first-time users have been Gen-Z, which provided early traction for virtual puja and consultations. This round of funding will help us strengthen our execution capabilities and move us closer to becoming a one-stop solution designed for a global audience.”
Speaking on their investment in VAMA, Mrinalini Arora, Partner & Co-Founder, 7Square Ventures said, “7Square Ventures is thrilled to be co-leading the round. We wanted to collaborate with someone who is developing a product that has the potential to reach the majority of Indians. What better way to do so than to contribute to an offering that addresses the religious and spiritual needs of the community.”
Speaking on this investment, Sanil Sachar, Founding Partner, Huddle said, “We are thrilled to support VAMA’s vision of building a one-stop virtual platform for the religious/spiritual needs of devotees around the world. This is an opportune time for a service like VAMA as it sits at the intersection of mass-digitalisation in India and the mass-market of religious/spiritual offerings that are used by the majority regardless of their age-groups, ethnicities, and socio-economic backgrounds. We are extremely excited to be backing VAMA in this journey as it capitalises on the significant shift witnessed from ‘Offline’ to ‘Online’ in the spiritual space, over the past two years.”
Commenting on their investment in VAMA, Arjun Vaidya, Founder, Dr. Vaidya’s said, “When I first met the VAMA team, I was amazed by their clarity of vision. They are addressing a real issue in a novel way that will have a global impact on millions of people. Bringing technology and convenience to spirituality is much needed, and it is something I have considered. It struck a chord with me, so I'm thrilled to be a part of their journey and can't wait to see what the team creates.”
Founded in late 2020, by Manu Jain, Himanshu Semwal & Acharya Dev, VAMA is a one-stop virtual platform that provides easy access to e-pujas, e-darshans, and astrology services, to devotees from across India and the world. The App that is available on Android devices as of now, offers virtual puja remedies in renowned temples from all over the country and has so far enabled over 50,000 online consultations.
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