Surat-based AI-focused startup venture studio BrahmVeda has completed the acquisition of astrology platform Vedvaani in a cash-cum-equity swap deal, marking its maiden acquisition.
The company, however, didn’t disclose the financial details of the transaction.
Vedvaani uses AI technology to provide astrological insights to its customers. It provides personalized predictions and habit-building features to its users.
“This acquisition is an essential step in our journey to build ventures that leverage the full power of AI, delivering meaningful and accessible solutions to consumers,” said BrahmVeda Ventures’ co-founder Vipul Kapoor.
BrahmVeda was founded by Kapoor, Nachiket Patel and Kashyap Pandya early this year.
“At BrahmVeda, we actively identify opportunities and validate startup ideas, leveraging our in-house tech team's expertise to develop cutting-edge AI products. Once the MVP is ready, we take the product to market, providing the necessary expertise, network, and resources to grow the business,” said Pandya.
This acquisition comes at a time when India’s astrology platforms are gaining significant attention from investors. Early this year, AstroTalk, which offers an online marketplace for astrology services, raised $14 million (Rs 117 crore) in a round led by domestic venture capital firm Elev8 Venture Partners, months after raising its maiden funding cheque. The deal was struck at a pre-money valuation of $288 million and came about three months after the company raised $20 million in its Series A funding round led by Left Lane Capital.