With this acquisition, Melooha seeks to leverage Munitalks’ multilingual support and astrology consultation services to boost its astrological offerings
The startup also aims to tap Munitalks’ AI technology stack to translate most of the Indian languages for boosting its user base
So far, Melooha claims to have secured an angel funding of INR 5.3 Cr (around $635K) led by US-based Streak Ventures LLC, and a clutch of angel investors
Astrology SaaS platform Melooha has bought Bengaluru-based language translation and astrological guidance startup Munitalks in a cash and stock deal.
Although the company did not disclose the financial terms of the deal, but sources close to the matter told Inc42 that the transaction was pegged at INR 70 Lakh.
With this acquisition, Melooha seeks to leverage Munitalks’ multilingual support and astrology consultation services to boost its astrological offerings.
Besides, the startup also aims to tap Munitalks’ AI technology stack to translate most of the Indian languages for boosting its user base.
Founded by Vikram Labhe and Bahlchandra Patil in 2022, Melooha offers personalised guidance based on an individual’s unique birth details, including their specific date, place and time of birth.
Currently, the platform claims to have its presence across 110 countries.
“This move underlines our brand’s commitment to pioneering advancements in offering astrological guidance through state of the art technology. With the acquisition, we aim to elevate the personalized insights we offer to our users, provide more accurate results, and enhance the overall user experience” said Labhe.
So far, Melooha claims to have secured an angel funding of INR 5.3 Cr (around $635K) led by US-based Streak Ventures LLC, and a clutch of angel investors.
Meanwhile, Munitalks, founded by Sumit Rathor in March this year, works towards breaking complex astrological questions to give cognitive results. It claims to offer astrological guidance in more than 80 languages.
This acquisition comes at a time when India’s astrological space is seeing a lot of traction from investors.
In May, online astrology platform Astrotalk raised INR 110 Cr ($14 Mn) in a mix of primary and secondary funding.
In the same month Noida-based astrotech startup InstaAstro raised INR 18.5 Cr (around $2.3 Mn) in a Pre-Series A funding round led by existing investor Artha Venture Fund.
The Indian astrotech market, valued at around INR 30K Cr ($4 Bn), is expected to surge to INR 50K Cr ($6.5 Bn) by 2025.
