Vama Raises Rs 23.87 Crore in Pre-Series A Funding Round

Vama, a virtual spiritual app, is securing Rs 23.87 crore (approximately $2.7 million) in its pre-Series A funding round. This round is spearheaded by existing investor Wavemaker Partners, along with contributions from 500 Global, Venture Catalyst, 9Unicorns, Silver Needle Ventures, and other angel investors. The board of Vama has approved the issuance of 4,433 pre-Series A1 compulsory convertible preference shares at an issue price of Rs 53,466.8 per share to achieve the target amount, as documented in its filing with the Registrar of Companies (RoC).

Funding Details and Investor Contributions

Wavemaker Partners will take the lead position in this round with an investment of Rs 11.37 crore. This will be followed by contributions of Rs 4.37 crore from 500 Global and Rs 3.2 crore from Silver Needle Ventures. In addition, 9Unicorns will invest Rs 1.59 crore, with the remaining contributions coming from Venture Catalyst, Sadev Capital, and angel investors including Alok Nanavaty, Harit Nagpal, Swati Parikh, and Mahesh Kamdar.

Prior Investments and Future Plans

The company has previously secured Rs 2.57 crore from Wavemaker Partners in June 2025. According to the filing, the funds will be allocated for business expansion and development requirements

Company Overview and Service Offerings

Vama is projected to be valued at Rs 149 crore (around $17 million) on a post-money basis, based on estimates from Startup Superb. Established in 2020 by Manu Jain and Acharya Dev, this startup, located in Delhi, provides virtual access to religious services, including e-pujas, e-darshans, and astrology consultations. Through its Android and iOS applications, Vama claims to have facilitated over 1.5 lakh astrology and puja services globally.

Investment History and Stake Distribution

From various sources of startup data intelligence, it is reported that Vama has raised approximately $5 million prior to this funding round. After the recent share allotment, Wavemaker will own the largest external stake at 18.18%, while new investors 500 Global and Silver Needle Ventures will hold 2.84% and 2.08%, respectively. The company’s founders will collectively maintain a 33.71% stake.

Financial Performance and Competition

For the fiscal year ending March 2025, Vama’s revenue has doubled to Rs 19.5 crore, whereas its losses have increased by 33% to Rs 12 crore. Vama competes directly with AppsForBharat, which recently secured $20 million in a Series C funding round. Other competitors in the market include DevDham, Utsav App, Sutradhar, Ghar Mandir, and 27 Mantra.