“This marks a significant moment for us, akin to the impact Paytm experienced during the demonetization period,” remarked Manu Jain, the co-founder of Vama, a startup based in New Delhi that provides virtual religious ceremonies, darshans, and astrology services. Jain referred to the Indian government’s demonetization in November 2016, which led to a surge in the use of platforms like Paytm, signalling a notable shift toward digital transactions.
With the inauguration of the Ram Mandir in Ayodhya, Jain reported a 35% increase in organic searches on Vama this month, mainly from individuals seeking religious ceremonies (pujas). The growing interest in spiritual and religious apps in India, supported by investments from firms like Peak XV Partners, Elevation Capital, Titan Capital, and India Quotient in recent years, is anticipated to receive a boost from the Ram Mandir inauguration, according to multiple founders and investors in the industry.
As the inauguration draws many devotees to Ayodhya, various spiritual and astrology platforms actively participate in the digital realm. Jain noted that, beyond specific searches related to the Ram Mandir, there is a general curiosity about the spiritual and religious sector. Vama has secured funding from investors such as Wavemaker Partners, as well as notable angel investors like Kunal Shah (Cred founder), Varun Alagh (Mamaearth co-founder), and Harit Nagpal (Tata Play MD & CEO).
In addition to spiritual platforms, quick-commerce platforms like BB Now from BigBasket, Zepto, Blinkit, and Swiggy Instamart are also witnessing increased sales of products in response to the heightened demand during this significant event. For more information, stay tuned to the IncBasil Website.
