Wavemaker Partners, an early-stage venture capital firm based in Singapore, has led the seed+ funding round for premier Indian faith-tech start-up VAMA.app.
VAMA said in a statement on Tuesday that Wavemaker Partners investment amounting to $1.1 million, marks its first in an India-incorporated tech company.
According to the statement, existing marquee investors such as Lisa Gokongwei-Cheng and Harit Nagpal have also reaffirmed their support by doubling down on their investments.
Additionally, several micro venture capital investors including Blume Founders Fund, Alluvium, and Untitled VC, as well as notable angel investors such as Burak Buyukdemir and Dhruv Bahl, also participated in the funding round, bringing the seed+ amount to $1.5 million.
The freshly raised funds will be used by the startup to acquire talent, bolster product development, and improve its technology, with a vision to further expand its user base.
VAMA said the firm is gearing towards a more extensive integration of temple-related services alongside scaling its astrology vertical.
The firm also plans to introduce new products and services to significantly enhance user experiences in the coming year.
“Our primary goal is to expand our team and enhance our technological capabilities to deliver an unmatched digital experience to devotees worldwide,” said VAMA Co-Founder Manu Jain.
According to him, this latest funding round will fuel their efforts to develop a cutting-edge technology platform.
“Moreover, this investment stands as a testament to our unwavering commitment to meeting the spiritual needs of our ever-growing user base,” he said.
He also said the firm aims to transform the traditional offline Mandir ecosystem into a digital realm through content-driven products designed to captivate, empower, and promote enduring engagement.
Established in late 2020 by Aacharya Dev, Himanshu Semwal, and Manu Jain, VAMA.app is a virtual platform serving as a one-stop destination for easy access to e-pujas, e-darshans, and astrology services for devotees across India.
The platform offers virtual puja remedies in temples to devotees and customers from all over the world.
Through purna puja offerings, astrology services, and remedies, VAMA aims to provide a divine and fulfilling spiritual experience to its users.
This extensive network further solidifies VAMA.app’s position as a leading provider of diverse spiritual services.
“The founders’ complementary skills, steadfast dedication, and strategic vision have enabled VAMA to create something exceptional out of its humble beginnings,” said Phuong Tran, Investment Principal at Wavemaker Partners.
By combining astrology and digital temple access in an easily accessible platform, he said VAMA’s ingenious approach has paved the way for an extraordinary venture that helps users address their spiritual needs.
“VAMA’s incredible journey speaks volumes about its resilience, innovation, and unwavering commitment to excellence within the faith-tech sector,
“We have faith in VAMA’s potential to become India’s largest digital spiritual platform,” he added.
Wavemaker Partners is Southeast Asia’s leading venture capital firm investing in early-stage enterprise/business to business (B2B), deep tech, and sustainability startups.
Since its establishment in Singapore in 2012, the firm has backed more than 190 companies across Southeast Asia, with total capital commitments exceeding $300 million and exits generating over $1.8 billion in enterprise value.