AppsForBharat, a product studio focused on building apps for the spiritual and devotional needs of Indian users, has raised $10 million in a Series A round led by Elevation Capital. Existing partners Sequoia Capital India, BEENEXT and Matrix Partners India also participated in the round.
The funding round also saw the participation of Angel investors — Scott Schleifer (Partner, Tiger Global); Saurabh Gupta (Managing Partner, DST Global); Ankush Sachdeva, Farid Ahsan, and Bhanu Pratap Singh (Co-founders, ShareChat); Utsav Somani (Partner, iSeed); Anshuman Rudra (Group PM, Google); Vidit Aatrey and Sanjeev Barnwal (Co-founders, Meesho); and Kunal Shah (Founder, CRED).
The raised funds will be primarily used for product expansion, creating content IPs, and hiring enthusiastic tech talents across the product, data, and engineering verticals.
With this latest funding round, the company garnered $14 million including the funds raised in April this year.
Founded in November 2020 by Prashant Sachan, the company is currently developing a wide range of mobile apps that offer a higher level of user experience and provide to the country’s underserved and often overlooked spiritual and dedicated needs. Until March 2020, Prashant Sachan was also the co-founder of the lifestyle centric short video app Trell.
The platform’s broad range of products includes high quality spiritual, devotional, wellbeing, and meditation-related tools, communities, and services.
AppForBharat aims to be a digital sanctuary for those who want to enhance their spiritual and devotional journey by using their smartphones easily. Their apps try to deliver offline functionality to the internet and thus create a digital habit for the users.
Prashant Sachan, Founder at AppsForBharat, said, “We are grateful to have such great partners on our journey. As we continue building AppsForBharat, we are putting together a great team that is customer obsessed and approaching it the right way — focussing on user needs as well as driving delight and long-term retention.”
“Our aim is to build products that users love, one that becomes a daily habit for a billion Indians, products that offer happiness and peace. If someone (reading this) is passionate about building products for such needs, we invite them to join our team.”
Mayank Khanduja, Partner at Elevation Capital, said, “As early investors in multiple contents and social platforms, we have been close witnesses to the need gap for devotional platforms. When we met Prashant and heard his vision behind AppsForBharat, we instantly knew this is a business we want to be partners in. As we spoke to the users, we realised that the product is satisfying the needs of a very wide distribution of audience across age groups, geographic locations, and income brackets. We are excited about the immense opportunity ahead for the company in building a product that works for a billion-plus people.“
AppsForBharat’s first application, SriMandir, which is on Android, plans to be the virtual destination for devotees to create their personalised shrines, consume devotional content, connect with prayer groups, and access a large library of spiritual texts, scriptures and videos.
The platform has a multidisciplinary team with expertise in building and scaling products across domains such as content, gaming, social and e-commerce. It also wants to hire Product, Data and Engineering talent who want to be part of this digital spiritual transformation and aspire to create an impact on billions of people.