Devotional platform Vama raises Rs 22 crore in pre-Series A round

Spiritual and devotional platform Vama has raised Rs 22 Cr ($2.5 million) in its pre-Series A funding round led by existing investor Wavemaker Partners.

Other investors including  500 Global, Sadev Ventures, Venture Catalysts, Silverneedle Ventures, and angel investors like Centrum International Services director Alok Nanavaty, Tata Play CEO Harit Nagpal, Swati Parikh, and Mahesh Kamdar, also participated in this round.

The startup will use the funding to expand into new segments like e-commerce and offline spiritual tourism, while improving its product offerings and investing in marketing initiatives.

“We are seeing strong demand from people who say they want to visit temples and perform puja. So we will start facilitating such trips and expand into offline travel, as we are extremely bullish on that. The target is to launch in at least two cities within this calendar year’’, said, Manu Jain, cofounder of Vama.

“Chadhava (an offering made to a deity), as a service, has been growing very well for us. It’s been one of our biggest revenue drivers, and the content experiments are also gaining traction,” said Jain.

Vishal Harnal, managing partner at 500 Global, said, “Faith and spirituality are universal needs, and Vama.app has shown the ability to digitise this space with both integrity and scale’’.

“We're doubling down on Vama.app as the platform continues to delight customers and sustain retention,” said Phuong Tran, investment principal at Wavemaker Partners.  

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About VAMA 

Founded in 2020 by Manu Jain and Aacharya Dev, New Delhi-based VAMA provides e-pujas, e-darshans, and astrology services to devotees across India. 

As of June, the platform has conducted over 5 lakh e-pujas and e-chadavas and expanded to more than 20 tier I and II cities. VAMA reported revenue doubling to ₹19.5 crore in FY24 and expects another 2X growth in FY25. 

The company has remained consistently contribution-margin positive, with margins above 10%, and anticipates achieving EBITDA profitability as it scales further.

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