The intersection of spirituality and innovation has given rise to new opportunities in the religious tech space. One of the leading players in this domain is Astroyogi, founded by Meena Kapoor. Its journey began with pioneering partnerships with global internet giants such as Yahoo, MSN and Rediff, before venturing into the VAS industry.
As the first movers in the space, the platform collaborated with several telecoms to offer content and live calling services. "Witnessing people's profound need for inspiration and hope deeply impacted me. My goal has always been to inspire others, creating a ripple effect of inspiration, all grounded in a commitment to providing only the highest quality content and services,” Kapoor states.
Charting New Frontiers
Astroyogi's disruptive approach provides users with unparalleled access to spiritual guidance and insights, all at their fingertips. Kapoor emphasises, "People now have unprecedented access to their aspirations, beliefs and the guidance they seek—all at the tap of an app."
Kapoor proudly shares Astroyogi's impressive growth trajectory and mentions the company’s notable compound annual growth rate (CAGR) of 75 per cent over the past six years. Despite being bootstrapped, Astroyogi has demonstrated consistent profitability, with a CAGR of 21 per cent over the last three years.
In response to emerging trends and consumer preferences, Kapoor outlines Astroyogi's strategic initiatives for future growth. "We are aggressively expanding into the US and Canada markets to capitalise on the surging interest in our category," she reveals. Additionally, Astroyogi aims to target the emerging GenZ segment while maintaining its reputation for quality advice. These proactive measures ensure Astroyogi's continued success and relevance in the evolving market landscape.
Astro Tech's Cosmic Potential
Reflecting on the potential of the astrology market in India, Kapoor asserts, "As long as there is a human need for advice and guidance, the astrology market will remain relevant.” However, she acknowledges the challenges in attracting Indian VCs and angel investors due to their traditional lens. "VCs are caught in a dilemma of looking at the market from a traditional lens, and not the technology lens," she explains. Despite these challenges,
Kapoor remains optimistic about the future of astro tech and its potential to disrupt the startup ecosystem.
In envisioning the future of the astrology market in India, Kapoor predicts a promising growth trajectory. "According to Google's report, astrology app queries have already reached 5.1 million, showing a remarkable 377 per cent year-on-year growth," Kapoor shares. These staggering numbers, coupled with the substantial market potential, indicate a bright future for astro tech in India.