The Digital Rebirth Of Age-Old Practice: Indian Astrotech Start-ups There were only five astrotech companies founded in 2013, with the number in 2018 being over 20

"Astrology is one of the oldest and most accurate tools known to mankind," said astrologer Chris Flisher. So, is there any truth in Astrology? Science may not think so, but ancient Vedic history does. For the uninitiated, astrology is the study of the movements of the planets, sun, moon, and stars in the belief that these movements can have an influence on one's life. Long gone are the days when you sat in front of an astrologer, had your planets and stars read, and got advice on various aspects of life such as marriage, job, and education.

According to Allied Market Research, the astrology market size was valued at USD 12.8 billion in 2021, and is estimated to reach USD 22.8 billion by 2031, growing at a CAGR of 5.7 per cent from 2022 to 2031.

In 2024, all this can be done in the click of a button all thanks to the rise in spiritual tech startups that are making astrology accessible to nook and corners of India, while making a mark in the west. Spiritual-tech startups such as Astrotalk, AstroVision, InstaAstro, Askmonk, AstroSage, Ganesha Speaks, Taaraka, and VAMA are working towards democratising astrology for the masses. Entrepreneur India spoke to a few entrepreneurs that have taken to technology to keep consultations and predictions going in the digital age.

THE AGE-OLD PRACTICE: Astrology and spirituality hold deep cultural roots in India. While astrology finds its mention in several civilizations such as Babylon, Sumeria, Egypt, Greece, and Rome, in ancient India, Vedic scholars created a complex system called Vedic astrology. The idea was to use maths to make birth charts or Janam Kundali, which examined planetary alignment when a person was born. This form of practice is deeply linked to Hindu culture, guiding important decisions and spiritual practices.

A NEW TAKE ON ASTROLOGY: Founded in 2017 by Puneet Gupta, Astrotalk is one of the prominent players in the space. Gupta's interest in the space spouts from a personal incident where a former colleague, an astrologer, predicted that he would be starting an IT company that would close within two years. As destined, the prediction came true. Before this, he believed astrology was fake and was a hardcore non-believer. "Our aim is to take India's ancient Vedic sciences across the globe," said Gupta. The Series A startup boasts of catering to three crore customers and is home to 13000+ astrologers. Manu Jain, Himanshu Semwal and Aacharya Dev founded VAMA in 2020 with the aim to offer organised and accessible spiritual services.

"We recognised that modern, techsavvy individuals, especially millennials and GenZ, value convenience and alignment with their fast-paced lifestyles. By offering online astrology consultations, e-pujas, and e-donations, we aimed to make spirituality more accessible and relevant to the younger generation. The rapid growth of the FaithTech industry post-pandemic was a clear indicator of the potential for our platform. We foresaw the significant monetisation potential and the expected 100x growth in virtual footfalls over the next few years. By being early movers in this space, we aimed to position VAMA as a leader in the FaithTech sector," said Manu Jain, Co-Founder, VAMA.

Having been intrigued by astrology since childhood, Vikram Labhe considers it as a guiding force in his life. "How do you find talented astrologers with a consistent and accessible presence? Astrology is not something that students who only pass a rigorous testing methodology are capable of absorbing and applying knowledge - Like the prestigious IITs or IIMs or IAS. You don't know if your astrologer has had the capability and capacity to learn Astrology from a scientific perspective," said Labhe. Thus he found Melooha, with a purpose to revive India's 5000+ year old ancient "vidya" of astrology and give it global recognition as a credible source of guidance.

Nitin Verma got the idea for InstaAstro during the lockdown days,"Recognizing the increasing need for mental and spiritual wellness (due to mental health crisis), I saw this as the perfect opportunity to create something meaningful." However, his tryst began years prior when an astrologer helped him navigate through the difficulties of his first company, DByDx Software. "One of our primary challenges is ensuring the quality of our astrologers rather than just focusing on quantity," he adds.

According to a recent survey by Astroyogi, 53.8 per cent of the Gen Z respondents seeked astrological guidance, mostly on relationships.

PERSONALISED OFFERS: As a standard practice, the 'Ask me a Question' is the most sought after service. Other offerings include Kundli generation, Kundli matching, virtual pujas and rituals, daily/weekly/monthly horoscopes, personalised reports, and pay per question. Melooha answers your questions not just in English or Hindi, but all regional Indian languages and several international languages.

Jain calls emerging technologies such as artificial intelligence and machine learning a significant part of the process. So, what does the technology do for cosmic wisdom? AI digs through heaps of astrological data to make connections in the cosmic chaos and looks at your charts and curates insights.

"We utilise AI and data analytics extensively to enhance user experience. For example, AI is used to match users with astrologers based on their specific needs and past satisfaction ratings, while data analytics helps us understand user behaviour and preferences to tailor our services and content accordingly. This integration of technology ensures that our services are not only authentic but also aligned with the expectations of a modern, digital-savvy clientele," he said.

"Our use of AI, including Generative AI and Large Language Models (LLM), aims to augment the capabilities of our astrologers, making them 10 times more effective. While AI will not replace astrologers, it will significantly enhance their ability to provide accurate and personalized guidance," noted the InstaAstro founder. Technology consulting and digital development company, Antino Labs, reported that AstroTalk leveraged that players like AstroTalk utilised data sources like Deepmind to create tailored horoscopes.

OVERCOMING CHALLENGES: Stigma and misconception sticks close to the practice of astrology. "One of the biggest challenges we've faced is the stigma and scepticism surrounding spirituality. Breaking the preconceived notions and establishing credibility in the digital space took significant effort. Additionally, digitising traditional practices while maintaining their sanctity and authenticity presented unique challenges. We had to ensure that our digital solutions did not dilute the essence of these age-old practices," said Jain. Concurs Labhe, "Many people view astrology with doubt, considering it unscientific or superstitious. Building trust and credibility has required consistent effort in demonstrating the accuracy and value of our services." This can be only addressed through education and awareness about astrology. For the usage of AI in the segment, the quality of data can make or break its predictions. Astrology varies across cultures, and AI might struggle to adapt, making it inconsistent in its predictions.

BETTING BIG: Astrology has been a part of Indian culture since time-immemorial and will continue to do so, making it a relevant sector for times to come. Spiritual-tech players have received massive capital backing from venture capitalists such as Streak Ventures LLC, Blume Founders Fund, Alluvium, Untitled VC, Artha Venture Fund, LogX Ventures, Singularity Ventures, IR Capital Partners, Left Lane Capital, and Blume Founders Fund. "Investing in an astrology startup was influenced by the deep cultural significance of astrology in India and the transformative impact of digitalization on this age-old practice. The pandemic catalyzed a shift from traditional in-person consultations to convenient and discreet online services, particularly appealing to Gen Y and Gen Z. This shift unlocked a previously untapped market, providing users with easy access to astrological guidance without family involvement and sufficient privacy," said Anirudh A Damani, Managing Partner, Artha Venture Fund, an investor in InstaAstro.

WHAT'S NEXT?: As clear as a crystal, AI will play a massive role in the segment. "We are incorporating AI and machine learning algorithms to enhance the accuracy and personalization of our astrological readings. This allows us to offer tailored insights that are more relevant to our users," said Labhe. "We are exploring advanced AI capabilities to provide even more accurate and personalised astrological predictions," said Jain.

"Because of the use of advanced digital tools, astrology has seen tremendous growth in recent years. With the introduction of artificial intelligence in online astrology, it will become one of the fastest-growing markets during the forecast period," said Roshan Deshmukh, Manager Consumer Goods, Allied Market Research. Gupta firmly believes that matrimonial space is a big part of astrology seeking and aims to invest and acquire players aligning with the vision. Investing in smaller bets to strengthen one's own deal is being practised by Melooha with the recent acquisition of Munitalks.

There were only five astrotech companies founded in 2013, with the number in 2018 being over 20. "Astrology apps have compelling unit economics, with high customer lifetime value and repeat usage rates, indicating a sustainable business model. Their ability to scale efficiently with limited investment makes them particularly attractive. We foresee the emergence of multiple unicorns in this space, driven by opportunities both in India and globally," concluded Damani.