AppsForBharat Raises ₹175 Crore Series C to Scale Faith Tech

AppsForBharat, the operator of the online devotional app Sri Mandir, has secured ₹175 crore in a Series C funding round led by Susquehanna Asia Venture Capital, with contributions from returning investors Nandan Nilekani’s Fundamentum, Elevation Capital, and Peak XV Partners, according to reports. 

The company plans to allocate a portion of the funds to over 20 temple towns across India, enhance its services and commerce sectors, set up fulfilment and logistics centres, and develop AI-driven features to improve user engagement.

Additionally, the firm will increase local hiring to manage the operations of these hubs and create job opportunities in these temple towns. For devotees, Sri Mandir is developing AI tools designed to assist users in navigating the app, providing answers to questions, guiding them through pujas, rituals, and festivals, as well as suggesting personalised spiritual content.

This funding round values the Bengaluru-based startup at $175 million, which is nearly double its valuation since September 2024, according to a source familiar with the details. In September, the company secured $18 million from Fundamentum and other backers.

The company achieved a revenue rate exceeding ₹100 crore in FY25 and facilitated over 5.2 million online pujas and offerings at more than 70 temples throughout India, its founder and CEO, Prashant Sachan, told Mint.

The app also boasts a considerable global footprint, with almost 20% of its demand originating from the Indian diaspora in the US, UK, UAE, Canada, Australia, and New Zealand.  

Founded in November 2020 by Sachan, AppsForBharat introduced its flagship app, Sri Mandir, designed to support individuals in India and abroad in their devotional and spiritual pursuits.

In India, faith-tech startups are rapidly gaining traction, with investments in these digital platforms surging from a total of $4.3 million in 2023 to $50.7 million in 2024, according to a report by market intelligence platform Tracxn.

According to Traxcn, the Religion Tech sector includes 6,230 companies globally. Among these, 230 have raised a total of $892 million in funding, with 85 classified as Series A+ funded. 

Key areas include e-commerce for religious products, on-demand religious services, social platforms, educational tools about religions, and AR/VR solutions. It also features software for religious organisations to streamline their operations.