Overview

• The Series C round was led by Susquehanna Asia Venture Capital with participation from Fundamentum, Elevation Capital and Peak XV Partners, bringing total funding to USD 53 million
• AppsForBharat will use the capital to establish logistics and fulfillment centres in over 20 temple towns including Varanasi, Ayodhya, Haridwar and Ujjain to handle prasad and ritual item deliveries
• Since its late 2020 launch, Sri Mandir has surpassed 40 million downloads, records around 3.5 million monthly active users and enabled 1.2 million rituals at more than 70 temples in the past year
• Nearly 20% of Sri Mandir’s revenue comes from about 700,000 registered users in the US, UK, UAE, Canada, Australia and New Zealand, a base growing 15% quarter-over-quarter
• The startup is scaling local hiring to support operations as it targets profitability by 2027–28 and prepares for an initial public offering