Total amount raised
$61M
Latest funding date
2025-07-01
Location
AppsForBharat has successfully raised funding over six rounds, with the latest being a Series C round. The company is backed by 24 investors, including notable names like Fundamentum and Elevation Capital.
Keep reading to explore the intricacies of AppsForBharat's fundraising journey and the investors backing this devotional platform.
What Is AppsForBharat?
AppsForBharat, founded in 2021, is a devotional platform based in Bangalore, Karnataka, India. The company operates in the devotional and spiritual tech industry, providing spiritual resources and applications to millions of users.
With a workforce of 101-250 employees, AppsForBharat offers various services through its platform, Sri Mandir, including booking pujas, daily darshan, and accessing a library of spiritual content. The company has raised funding through multiple rounds, with the latest being a Series C round in July 2025.
How Much Funding Has AppsForBharat Raised?
- Seed Round
- Amount Raised: USD 200,000
- Date: April 2021
- Lead Investors: Sequoia Capital India (co-investor: Trell)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial development and market entry.
- Seed Round
- Amount Raised: USD 4,000,000
- Date: August 2021
- Lead Investors: Sequoia Capital India (Peak XV), BEENEXT (co-leads); WEH Ventures also participated
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage development and scaling of the Sri Mandir app.
- Series A
- Amount Raised: USD 10,000,000
- Date: September 2021
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support initial growth and development of the app and its features. Participating investors included Sequoia Capital India, BEENEXT, Matrix Partners India, and angel investors.
- Secondary Market
- Amount Raised: USD 9,000,000
- Date: April 2022
- Lead Investors: Mirae Asset, MSA Novo (secondary purchase of Trell's ~10% stake)
- Valuation at Round: Implied valuation of over USD 90 million
- Motivation Behind the Round: Secondary transaction — Trell exited its stake; Mirae Asset and MSA Novo acquired shares.
- Series B
- Amount Raised: USD 18,000,000
- Date: September 2024
- Lead Investors: Fundamentum (Nandan Nilekani's fund)
- Valuation at Round: Estimated between USD 90–100 million
- Motivation Behind the Round: Expand the Sri Mandir app, build a technology stack for temples, add new regional languages, and scale operations in India and global markets. Participating investors included Susquehanna Asia VC, Elevation Capital, Peak XV, Mirae Asset VC, WEH Ventures, and Sai Global India.
- Series C
- Amount Raised: INR 175 crore (approximately USD 20,000,000)
- Date: July 2025
- Lead Investors: Susquehanna Asia Venture Capital
- Valuation at Round: Estimated approximately USD 175 million
- Motivation Behind the Round: Scale operations to 20+ temple towns in India, strengthen technology infrastructure, and expand the Sri Mandir platform. Existing investors Fundamentum, Elevation Capital, and Peak XV Partners also participated.
Total Amount Raised: At least USD 61,200,000 based on disclosed funding across all rounds.
Current Valuation: Estimated approximately USD 175 million (as of July 2025)
Key Investors
- Susquehanna Asia Venture Capital
- Details: Susquehanna Asia Venture Capital led the Series C funding round for AppsForBharat in July 2025. They are known for strategic investments in high-growth technology companies, including early backing of ByteDance.
- Investment Focus Areas: Technology, digital services, high-growth startups
- Notable Investments: ByteDance, Paytm
- Fundamentum
- Details: Fundamentum, co-founded by Nandan Nilekani, led the Series B funding round for AppsForBharat in September 2024. Partner Ashish Kumar joined the AppsForBharat board following the Series B investment.
- Investment Focus Areas: Digital transformation, scalable mid-stage startups, technology
- Notable Investments: ShopX, RailYatri, Pharmeasy
- Elevation Capital
- Details: Elevation Capital led AppsForBharat's Series A in September 2021 and has continued to participate in subsequent rounds including Series B and Series C. They focus on early to growth-stage investments.
- Investment Focus Areas: Technology, consumer companies, early-stage startups
- Notable Investments: Paytm, Swiggy, UrbanClap
- Peak XV
- Details: Peak XV, formerly known as Sequoia Capital India, co-led the $4M Seed round and has participated in Series B and Series C rounds for AppsForBharat.
- Investment Focus Areas: Technology, consumer companies, high-growth startups
- Notable Investments: Byju's, OYO, Zomato
- Mirae Asset VC
- Details: Mirae Asset VC, the venture capital arm of Mirae Asset Financial Group, acquired a stake in AppsForBharat via a secondary transaction in April 2022 and participated in the Series B round.
- Investment Focus Areas: Technology, consumer, financial services
- Notable Investments: BigBasket, Ola
What's Next for AppsForBharat?
AppsForBharat is poised to capitalize to the vast opportunities within the $50 billion Indian devotional sector. With plans to expand the Sri Mandir app, onboard new temples, and introduce spiritual tourism, the company aims to scale operations both domestically and internationally. The potential to capture a significant share of this market is immense, especially as digital transformation continues to reshape the industry.
Future fundraising opportunities seem likely as AppsForBharat continues to grow. The company's ambitious plans to increase temple listings ten‑fold and expand into new regional languages and international markets suggest that additional funding rounds will be necessary to support these initiatives. The ongoing digitalization of devotional practices presents a fertile ground for further investment.
However, AppsForBharat may face challenges such as competition from other spiritual tech startups and the complexities of scaling operations internationally. Ensuring the quality and authenticity of services while navigating regulatory and cultural sensitivities will be crucial. Despite these hurdles, the company's strategic vision and robust growth plans position it well for future success.
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