AppsForBharat Raises $18 Million to Expand Devotional Platform Sri Mandir

AppsForBharat, the parent company of the devotion platform Sri Mandir, has secured $18 million in a funding round led by Fundamentum, with participation from Susquehanna Asia VC and existing investors such as Elevation Capital, Peak XV Partners, and Mirae Asset VC. This fresh infusion of capital will be used to expand both domestic and international operations, onboard more temples, and introduce new services to enhance the digital devotional experience.

Sri Mandir: Connecting Devotees Digitally

Launched in 2020 by IIT-Bombay alumnus Prashant Sachan, Sri Mandir offers a virtual platform where devotees can perform pujas, join prayer groups, and access a wealth of devotional content. Over the past year, half a million devotees used the platform, completing 2.7 million transactions. Sri Mandir aims to quintuple this number in the next year.

"We will launch spiritual and devotional experiences and build a tech platform where temples can connect with devotees and enhance engagement," said Sachan. The Bengaluru-based company’s revenue rose to Rs 18.59 crore in FY24, up from Rs 3.53 crore in FY23, despite posting an operational loss of Rs 31 crore.

Expanding into Regional Languages and Global Markets

Sri Mandir plans to add five new regional languages and increase temple listings tenfold across India over the next year. Additionally, the app will expand its reach to key international markets, including the US, UK, and Canada. Sachan highlighted the 50 million-strong Indian diaspora as a crucial target, with plans to capture 5-10% of that market.

Digital Transformation in the Devotional Sector

India’s $50 billion devotional sector has been rapidly evolving, attracting significant venture capital investments. "Prashant and his team have built a world-class, uniquely Indian product that blends tradition with innovation, providing a comprehensive digital experience," said Fundamentum cofounder Ashish Kumar. With strong adoption among both young adults and older generations, the platform has the potential for long-term scalability in India and beyond.

The devotional tech space is heating up, with platforms like Vama.app, Astrotalk, and Utsav also emerging as key players. A post-pandemic surge in online spiritual engagement, along with events like the inauguration of the Ram Temple in Ayodhya, has driven the growth of devotional apps, similar to the boom in digital payment apps following demonetization in 2016.

As Sri Mandir continues its expansion, it’s set to lead the charge in blending faith with technology, making devotional practices more accessible to millions across the globe.