AppsForBharat, the parent company of devotional platform Sri Mandir, on Monday announced that it has raised nearly $20 million (Rs 175 crore) in its Series C funding round led by Susquehanna Asia Venture Capital.
The round also saw participation from existing investors Nandan Nilekani’s Fundamentum, Elevation Capital, and Peak XV Partners, the startup said in a statement.
The funds will be used to invest in over 20 temple towns in India, starting with Varanasi, Ujjain, Ayodhya, and Haridwar, strengthen services and commerce verticals, establish fulfillment and logistics hubs, and build AI-led features to bolster user engagement, the statement added.
“With this fundraise, we are entering the next phase of growth – scaling temple partnerships, improving digital infrastructure for temples, and building AI capabilities to serve our users better. We have grown by 2X in the last 6 months and have been able to create significant value to our temple partners and our devotees,” said Prashant Sachan, founder & CEO, AppsForBharat.
Founded by serial entrepreneur and IIT Bombay alumnus Prashant Sachan, AppsForBharat enables devotees to participate in online prayers and access devotional content.
Sri Mandir claims to have witnessed over four crore downloads since its inception in 2020. The app claims that in the last 12 months, 12 lakh devotees have done 52 lakh online prayers and made offerings at 70+ temples across India.
The app also boasts of global presence with nearly 20% of the demand coming from the Indian diaspora living in the US, UK, UAE, Canada, Australia, and New Zealand.
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