With the consecration of the Ayodhya temple, startups in the spiritual tech space are gearing up for a substantial boom. Industry players foresee the transformation of Ayodhya city already contributing to a double-digit boost in their businesses including the spiritual startups offering unique and innovative solutions and services.
The spiritual tech sector is witnessing a notable surge, primarily driven by the enthusiasm of young individuals aged 25-35, Non-Resident Indians (NRIs), and senior citizens who, unable to travel, seek to stay connected with their cultural and spiritual roots.
In the ever-evolving landscape of the Indian faith market, 2024 is witnessing a surge in spiritual tech startups. This follows the staggering valuation of USD 58.56 billion in 2023, providing ample opportunities for startups to disrupt and thrive. The surge is particularly fueled by the rising demand for spiritual apps, creating a space where venture capital (VC) funds are anticipated to flow in, promising higher profit margins and increased demand on the horizon.
India’s Pradhan Sevak @narendramodi is finally bringing Ram Lalla to his new home. PM Modi graces the Pran Pratishtha ceremony of Ram Mandir in Ayodhya.#RamMandir#Ayodhya#JaiShriRam#ShriRamJanmbhoomi#RamMandirPranPrathistha pic.twitter.com/6lWb59Ha57— MyGovIndia (@mygovindia) January 22, 2024
Dr Omkar Rai, Executive Chairman of Startup Odisha, said, "Spiritual tech #startups can provide interactive virtual & immersive temple tours, & enable remote offerings. Market includes those seeking spiritual connections, cultural enthusiasts, & individuals desiring convenient religious practices #AyodhaRamMandir"
Spiritual tech #startups can provide interactive virtual & immersive temple tours, & enable remote offerings. Market includes those seeking spiritual connections, cultural enthusiasts, & individuals desiring convenient religious practices #AyodhaRamMandir https://t.co/TXtBFYXKsQ— Dr.Omkar Rai (@Omkar_Raii) January 22, 2024
Ujwal Sutaria, Angel Investor, wrote on X, "Ram Mandir inauguration in Ayodhya today is the Demonetization/Jio moment for Devotion/Spirituality tech sector. We will see more & more tech play and numerous startups in this massive sector of $50 billion+ or almost 2% of India's GDP."
SriMandir's Illuminating Celebration: Virtual Participation in Ayodhya Celebrations
Backed by Peak XV Partners and Elevation Capital, devotional startup SriMandir is set to illuminate Ayodhya with a grand celebration called Ramotsav. SriMandir's app takes center stage, allowing global participants to engage in spiritual rituals in Ayodhya virtually.
The 100,000 Diyas will glow during the week-long event from January 18th to 24th, coinciding with the much-anticipated temple consecration.
As part of the Deepotsav initiative, devotees worldwide can light diyas in their name to welcome Lord Ram, while the app captures and shares these moments. Notably, SriMandir extends this service free of charge to users above the age of 60, acknowledging the limitations faced by senior citizens in traveling to Ayodhya.
Prashant Sachan, founder and CEO of SriMandir, had expressed the significance of their devotion-driven app in fostering spiritual unity globally. The app provides access to grand pujas conducted in Ayodhya, creating a divine atmosphere to welcome Lord Ram.
Utsav App: Book Spiritual Puja at Ayodhya
Utsav App takes a unique approach, providing services such as pujas, live darshans, and home delivery of holy prasad from auspicious temples across India. The startup facilitates personalized pujas and offers a seamless connection between devotees and spiritual practices.
The platform features a dedicated link on its website, enabling devotees to offer pujas on various occasions at different temples across India, including a specific link for puja offerings at Hanuman Garhi in Ayodhya. To book a puja slot, devotees can choose the time and date online, entering their family details. The startup will then send photos, videos, and prasad to the devotee's home.
Vama's PayTM Moment in India
New Delhi-based startup Vama, founded in late 2020, is making waves in the spiritual tech space by providing access to virtual pujas, darshans, and astrology services.
Vama views the current time as a 'PayTM Moment' in India, reflecting its significant impact on the market. In an interview with the media, the co-founder stated that the Ram Mandir inauguration in Ayodhya has opened up abundant opportunities for spiritual startups in India, much like demonetization did for PayTM.
VAMA is offering interactive virtual kathas and immersive temple experience around Ayodhya.
DevDham's Rise in Daily Engagement
Founded by IIT graduates, DevDham connects devotees globally with Hindu temples, offering online daily darshan, pujas, and digital donations. With a recent seed round raising Rs 6 crore, DevDham has seen a notable 30-35% rise in daily engagement on its mobile app.
Quick-Commerce Platforms Join the Spiritual Wave
Quick-commerce platforms like BigBasket, Zepto, Blinkit, and Swiggy Instamart are contributing to the spiritual wave by creating specialized categories for items needed in religious ceremonies. Lamps, flowers, incense sticks, coconuts, and sweets are readily available on these platforms, catering to the spiritual shopping needs of the masses.
The spiritual tech boom in India is not just a reflection of market size but a testament to the evolving ways in which technology is connecting individuals with their faith and cultural heritage. As the Ayodhya temple consecration approaches, these startups are at the forefront, reshaping the spiritual landscape and fostering a global sense of unity and devotion.
श्री राम, जय राम, जय-जय राम! pic.twitter.com/j3tXMBm4cF— Yogi Adityanath (@myogiadityanath) January 22, 2024
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