Vama, a digital platform at the intersection of spirituality and technology, has raised ₹22 crore (about $2.47 million) in its Pre-Series A funding round.
The round was led by Wavemaker Partners, with participation from 500 Global, Sadev Ventures, Venture Catalysts, Silverneedle Ventures, and multiple angel investors. Notably, this is 500 Global’s first investment in Vama, while Wavemaker has doubled down after backing the company last year.
The funds will be used to broaden product categories, strengthen the e-commerce vertical, scale marketing initiatives, and lay the groundwork for international expansion.
Founded in 2020 by Acharya Dev and Manu Jain, Vama is positioning itself as a leading faith-tech player, enabling devotees to access temple services, consult astrologers, and purchase authentic spiritual products through its platform.
The company recently launched Vama Mall, which has seen rapid growth, and is now planning to enter offline spiritual travel experiences and services designed for the global NRI community.
On the financial front, Vama doubled its revenue in FY24 to ₹19.5 crore and expects similar growth in FY25. Currently, temple services contribute 70% of revenue, with astrology and the e-commerce mall driving the rest.
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The platform has already onboarded over 150,000 paying users and is targeting 1 million users within the next two years, while also scaling temple partnerships from 250 to 500.
Importantly, the startup maintains contribution margins above 10% and is aiming for EBITDA profitability as it accelerates growth.