AppsForBharat Raises $18 Million to Transform Devotional Sector

AppsForBharat, the company behind the devotional app Sri Mandir, secured $18 million in a funding round led by Fundamentum. The funds will be used to expand operations, onboard new temples, and launch new services. The company has ambitious plans to transform the $50 billion devotional sector in India and internationally.

AppsForBharat, the parent company of the devotional app Sri Mandir, announced on Tuesday that it has secured $18 million in a funding round spearheaded by Fundamentum, a venture capital firm backed by Infosys Co-founder Nandan Nilekani.

The investment round featured contributions from Susquehanna Asia VC, as well as existing supporters Elevation Capital, Peak XV, and Mirae Asset VC, according to a company statement.

Launched in November 2020 by IIT Bombay alumnus Prashant Sachan, AppsForBharat aims to address the spiritual and devotional needs of its users. The newly acquired funds will be utilized to scale Sri Mandir's operations both within India and on an international level, onboard additional temples, introduce new services, and build a comprehensive technology stack for the devotional ecosystem, the statement added.

Over the next five years, the company plans to enhance its offerings through various initiatives including spiritual tourism, facilitating special Darshan tickets, and seamless Prasad delivery. The vision is to evolve Sri Mandir into a comprehensive digital tech platform that addresses all aspects of the devotional journey, according to AppsForBharat Founder and CEO, Prashant Sachan.

The Sri Mandir app boasts over 30 million downloads and facilitated 27 lakh pujas and offerings for over 5 lakh devotees in temples across India last year. In the next year, they aim to extend the app's availability to five additional regional languages, significantly increase the number of temples listed, and develop a robust spiritual tourism ecosystem.

(With inputs from agencies.)