AppsForBharat, the parent company of devotion platform Sri Mandir, has raised $18 million in Series B funding, led by Nandan Nilekani’s Fundamentum. The round also saw participation from Susquehanna Asia VC, as well as existing investors Elevation Capital, Peak XV, and Mirae Asset VC.
The funds will be used to utilise the funds to expand the Sri Mandir app, build a robust technology stack for temples, introduce five new regional languages, and scale operations in India and international markets like the US, UK, and Canada.
To date, the company has raised nearly $32 million across its funding rounds, including $10 million in Series A funding in September 2021 and $4 million in seed funding in August 2021.
“We are committed to building the most trusted destination that serves the needs of millions of devotees in India and abroad, providing them the access they always wanted. We are grateful for all the user love that Sri Mandir is getting in India and abroad, and this highlights the need for such a platform,” said Prashant Sachan, Founder and CEO of AppsForBharat.
“Over the next five years, we aim to expand our offerings by introducing spiritualtourism, facilitating special Darshan tickets, and ensuring seamless delivery of rasad and related devotional goods, transforming Sri Mandir into an end-to-end digital tech platform,” he added.
“India’s devotional sector valued at $50 billion presents a massive opportunity for digital transformation. Prashant and team have built a world-class uniquely Indian product that seamlessly blends tradition with innovation providing a comprehensive digital experience for its devotees. With its widespread adoption among both young adults and older generations alike, we expect long-term scalability in India and global use cases emerging in the future,” said Ashish Kumar, Co-founder & General Partner, Fundamentum, which is joining the board of AppsForBharat.
AppsForBharat, founded in 2020, launched its flagship app, Sri Mandir, to assist people in their spiritual and devotional journeys. The platform, led by Prashant Sachan and Pulkit Pujara, offers spiritual products and services, focusing on culturally rooted rituals, activities, and participation in festivals like Diwali, Navratri, Purnima, and Amavasya.
The Sri Mandir app offers access to over 50+ temples, allowing users to participate in pujas, offer goods, and gives access to devotional content from their homes. Launched in 2021, it has over 30 million downloads and has seen over 5 lakh devotees perform 27 lakh pujas and offerings in India.
The company plans to increase its temple listing in India by 10x, establish a robust spiritual tourism ecosystem, with the app available in 5 regional languages, and expand international operations in 12 months.
