Spiritual tech startup Vama has raised Rs 19.03 crore (approximately $2.1 million) in an ongoing Pre-Series A funding round led by Writers and Publishers Private Limited, the family office of Dainik Bhaskar. The round also saw participation from Wavemaker Partners, Silver Needle Ventures, Harit Nagpal, MD and CEO of Tata Play, Swati Parikh, Vinay Mittal and Nikhil Bhandarkar.
According to regulatory filings accessed by Entrackr, Vama allotted 3,452 compulsorily convertible preference shares (CCPS) at an issue price of Rs 55,134.39 per share, aggregating to Rs 19.03 crore.
The round appears to be ongoing, with the Delhi based company likely to raise additional capital in subsequent tranches.
Dainik Bhaskar’s family office led the round with an investment of Rs 12.50 crore, while the remaining Rs 6.53 crore came from the other investors, including Wavemaker Partners, Silver Needle Ventures, Harit Nagpal, Swati Parikh, Vinay Mittal and Nikhil Bhandarkar.
Vama could be among the first recorded startup investments by the Dainik Bhaskar family office.
As per Entrackr’s estimates, the funding values Vama at around Rs 180 crore, a 20% increase from its previous Pre-Series A round, which valued the company at Rs 150 crore.
Founded in 2020 by Acharya Dev and Manu Jain, Vama provides devotees access to temple services, astrology consultations and spiritual products through its platform. Temple services account for around 70% of its revenue, while astrology and Vama Mall contribute the rest.
Dainik Bhaskar’s presence across Hindi speaking markets could help Vama expand its reach and strengthen its access to temples and other service providers.
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