AppsForBharat secures $18M in Series B funding

AppsForBharat, the parent company of devotion platform Sri Mandir, has raised $18 million (Rs 151 crore) in Series B funding, led by Fundamentum, with participation from Susquehanna Asia VC, Elevation Capital, Peak XV, and Mirae Asset VC.

The funds will be used to expand Sri Mandir's India and international operations, introduce new temples, launch services, and develop a comprehensive devotional tech stack.

“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 spiritual tourism, 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.

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.

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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.

“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.

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.