Vama, a Bengaluru-based faith-tech startup that offers digital spiritual and religious services, has raised ₹22 crore ($2.47 million) in a Pre-Series A round led by Wavemaker Partners, with participation from 500 Global, Sadev Ventures, Venture Catalysts, Silverneedle Ventures, and multiple angel investors.
This round marks 500 Global’s maiden investment in Vama, while Wavemaker Partners doubled its commitment after first backing the company in 2023.
The startup plans to utilize the fresh funds to launch new categories, strengthen its e-commerce vertical, expand marketing initiatives, and prepare for global growth. Vama said it continues to maintain contribution margins above 10% and is targeting EBITDA profitability as it scales further.
Founded in 2020 by Acharya Dev and Manu Jain, Vama blends tradition with technology, offering virtual temple services, astrology consultations, and authentic spiritual products through its platform. Its recently introduced e-commerce arm, Vama Mall, has gained traction, with plans to further diversify into offline spiritual travel and services for the NRI community.
Vama reported ₹19.5 crore in revenue in FY24, double the previous year, and expects to repeat the growth trajectory in FY25. Currently, temple services contribute about 70% of revenue, while astrology and Vama Mall account for the remainder. The platform has onboarded over 150,000 paying users and aims to scale that figure to 1 million within two years, alongside expanding its temple partnerships from 250 to 500.
In India’s rapidly emerging faith-tech market, Vama competes with players like AppsForBharat, DevDham, Utsav App, Sutradhar, and Ghar Mandir. Notably, AppsForBharat recently raised $20 million in a Series C round, highlighting investor interest in this niche category.
By: Arushi Agarwal
