Sri Mandir App Secures $20M Series C as Digital Devotion Market Booms in India
In a testament to the burgeoning market for digital religious services, AppsForBharat, the innovative Indian startup behind the popular Hindu devotional application Sri Mandir, has announced a substantial $20 million Series C funding round. This latest investment arrives just over nine months after the company secured $18 million, highlighting the rapid pace of growth and the strong investor appetite for platforms catering to spiritual and devotional needs in the digital age.
The Series C round was spearheaded by Susquehanna Asia Venture Capital, signaling confidence from international investors in the Indian religious technology sector. Existing investors also participated, including prominent names like Indian billionaire and tech veteran Nandan Nilekani’s Fundamentum Partnership, Elevation Capital, and Peak XV Partners. This continued support from existing backers speaks volumes about the perceived potential and performance of AppsForBharat and its flagship product, Sri Mandir.
Religious devotion is a deeply ingrained aspect of life in India, a nation where spirituality and tradition hold immense cultural and economic significance. The sheer scale of religious practice is staggering, with an estimated 53 temples for every 100,000 people across the country. Millions of Hindu devotees regularly engage in prayers at home, with local priests, or at temples, seeking solace, peace, and well-being. This widespread devotion fuels a massive, albeit largely unorganized, temple economy. According to a survey by the Indian government’s National Sample Survey Office, the Hindu temple economy alone is valued at a staggering ₹3.02 trillion (approximately $40 billion), representing nearly 2.3% of India’s GDP.
Despite this immense scale and economic footprint, many services associated with religious practice, such as performing prayers, making offerings (prasad), and engaging with temple rituals, remain predominantly offline, fragmented, and lack formal organization. This is the significant gap that AppsForBharat aims to bridge with its Sri Mandir app.
Bridging the Gap: Sri Mandir's Digital Offering
Founded in November 2020, AppsForBharat launched Sri Mandir shortly thereafter with a clear mission: to serve Hindu devotees by providing accessible online avenues for prayer and the ability to make virtual offerings to temples across India. The app has quickly resonated with its target audience, accumulating over 40 million downloads since its inception. This rapid adoption underscores the latent demand for digital solutions in the devotional space.
In the past 12 months, Sri Mandir has facilitated online prayers and offerings for 1.2 million devotees at more than 70 temples throughout India. This demonstrates the app's growing network and its ability to connect devotees with sacred sites, regardless of geographical distance.
Currently, Sri Mandir boasts a robust base of around 3.5 million monthly active users (MAU). While the majority of this user base resides within India, a significant portion, approximately 90,000 users, are located outside the country. This international user base, primarily comprising the Indian diaspora, presents a particularly lucrative segment for the company.
Interestingly, the average revenue per user (ARPU) from users outside India is substantially higher than that from domestic users. The Bengaluru-based startup reports an ARPU of roughly ₹7,000 (approximately $81) from international users, compared to ₹600–800 ($7–$9) in India. This disparity highlights the willingness of the diaspora to spend more on connecting with their faith and cultural roots digitally. Notably, nearly 20% of the platform’s total revenue is generated by the Indian diaspora residing in countries such as the U.S., U.K., UAE, Canada, Australia, and New Zealand. The number of registered Sri Mandir users outside India is also experiencing strong growth, increasing at a rate of 15% quarter-over-quarter, and has now reached 700,000.
Domestically, the app's Indian user base is relatively evenly distributed between tier-1 and tier-2 towns, indicating broad penetration across different urban centers. A significant portion, 30%, of Indian users are under the age of 35, suggesting that digital devotion is gaining traction among younger generations. Outside India, the user demographic skews slightly older, with the majority of users being men and women aged 30 and above, likely reflecting the established diaspora communities.
Prashant Sachan, founder and CEO of AppsForBharat, shared insights into the company's financial performance, stating that at the start of 2025, Sri Mandir surpassed a $12 million run rate. This indicates strong revenue generation capabilities and a clear path towards scalability.
User retention is a critical metric for any app, and Sri Mandir demonstrates impressive engagement. The app boasts a six-month retention rate of approximately 55%. This means that more than half of the users who download and begin using the app remain active six months later. Sachan attributes this high retention to the nature of devotional activities, which users perform throughout the year, often multiple times. The app integrates seamlessly into these recurring practices, making it a sticky platform.
User behavior patterns on the app show interesting geographical variations. In India, there is a 20% to 25% overlap between users who engage in both prayers and make offerings through the app. In contrast, users in the U.S. exhibit a significantly higher overlap, with roughly 50% of their entire user base participating in both activities. This higher engagement in the U.S. likely stems from the physical distance from Indian temples, making the digital platform a more essential tool for comprehensive devotional practice.
While the traditional Hindu devotion services in India are largely offline, some temples have begun to embrace digital technologies, offering live streaming of rituals and accepting online donations or offerings. This shift indicates a broader trend towards digitization within the religious sector. In response to Sri Mandir's success and the growing market, several competing apps have emerged. However, according to Sachan, the combined cumulative installs of these competing apps account for only about 15% to 20% of Sri Mandir's total installs, positioning Sri Mandir as the clear market leader in the Hindu devotional app space.
Sri Mandir operates on a business model similar to other online platforms, taking a percentage cut from the transactions facilitated for temples. The average take rate is between 20% and 25%, although this can vary depending on the specific services offered through the platform. Beyond prayers and offerings, the startup is strategically expanding its revenue streams by gradually introducing merchandise from well-known temples, providing devotees with access to sacred items and further integrating the app into the broader temple economy.
Crucially, Sri Mandir's platform is not just beneficial for the startup; it also provides tangible benefits to the temples it partners with. By bringing temples online and expanding their reach to a wider, digitally connected audience, Sri Mandir helps increase their revenues by an estimated 15% to 25%. This symbiotic relationship is key to the platform's sustainability and growth.
The Growing Religious Tech Market
The religious app market is experiencing significant growth globally, with India standing out as a particularly dynamic hub. In the first half of 2025, the top 10 religious apps worldwide saw a 15% year-over-year increase in monthly active users, even as downloads experienced a slight 2% decline. India's market, however, has significantly outpaced this global trend.
According to data shared with TechCrunch by Indian private market tracker Tracxn, the top 10 religious apps in India recorded an impressive 60% growth in monthly active users and a 50% increase in downloads during the first half of the year. This surge highlights the rapid digital adoption for religious purposes within the country.
Paradoxically, while the overall Indian religious app market experienced a boom, Sri Mandir saw a slight shift in its ranking. In the first half of 2024, the app was ranked among the top 35 religious apps globally and held the undisputed top position among religious apps specifically in India. However, in the current year, it has moved to the second position in India, overtaken by LifeChurch.tv's Bible app. The Bible app claims a massive global user base, exceeding 80 million average monthly active users, illustrating the potential scale of devotional apps across different faiths.
Despite this change in ranking within India, Sri Mandir firmly remains the leading Hindu devotional app, a significant achievement given the competitive landscape and the vastness of the Indian market.
Funding trends in the religious tech sector further underscore its growing importance. According to Tracxn data, religious tech funding in India reached its peak in 2024, attracting a substantial $50.5 million in that year alone. Globally, funding in this space peaked earlier, in 2021, followed by a gradual decline. India's contribution to this global trend is significant; since 2020, the country has accounted for 15% of the total global investment in religious technology, making it the second-largest market after the U.S. in terms of funding volume.
Within this rapidly expanding sector, AppsForBharat has solidified its position as the leading startup, having raised a total of $33.4 million before the current Series C round, according to Tracxn data. This cumulative funding highlights the significant investment poured into the company and its potential to dominate the digital devotion landscape.
A Tracxn spokesperson commented on the broader trend, stating, “Religious tech startups are increasingly gaining prominence globally, especially in economies like India, owing to the importance of culture and religion among the demographic, combined with the rise in internet penetration, digital payments, and growing adoption of e-commerce, especially in tier-2–3 cities. We can expect this sector to grow further in the near future.” This expert perspective validates AppsForBharat's strategic focus on India and the potential for continued expansion.
Future Vision: Expanding Reach and Enhancing Experience
With the fresh infusion of $20 million, AppsForBharat has ambitious plans to deepen its presence and enhance its offerings. A key focus area for investment is expanding into over 20 significant temple towns across India. The initial phase of this expansion will target prominent pilgrimage centers such as Varanasi and Ayodhya in Uttar Pradesh, Haridwar in Uttarakhand, and Ujjain in Madhya Pradesh.
A significant aspect of this expansion involves establishing physical facilities in these temple towns. These facilities will serve as crucial logistics and fulfillment hubs, supporting the company's growing network of partner temples. By having a physical presence, AppsForBharat can more effectively manage the delivery of food offerings (prasad) and other ritual items to devotees who make virtual requests through the app. This hybrid approach, combining digital access with physical fulfillment, addresses a critical need in the market and enhances the authenticity and tangibility of the digital devotional experience.
Each of these planned physical facilities is expected to handle a substantial volume of orders, ranging from 40,000 to 50,000. Beyond facilitating logistics, these hubs are also anticipated to contribute positively to local economies by creating employment opportunities in the respective temple towns, as highlighted by CEO Prashant Sachan.
In addition to expanding its physical footprint, AppsForBharat is committed to leveraging technology to enrich the user experience on the Sri Mandir app. A significant area of focus is the integration of AI-led features. These features are designed to replicate and enhance the traditional interactions devotees might have with religious authorities or elders. For instance, users will be able to ask questions about their faith, specific prayers, rituals, or festivals, receiving personalized and informative responses. This AI-powered guidance aims to make the app a more comprehensive spiritual companion.
Recognizing the potential pitfalls of AI, particularly the risk of generating incorrect or nonsensical information (known as hallucination), Sachan emphasized the startup's commitment to deploying safeguards. This includes working closely with subject-matter experts to ensure the accuracy and appropriateness of the AI-generated content, maintaining the sanctity and authenticity of the religious information provided.
Looking further ahead, AppsForBharat has set clear financial goals. The company aims to achieve profitability by the fiscal years 2027–28. Concurrently, they plan to be ready for a potential public listing within the same timeframe, although Sachan noted that there is no definite IPO timeline established yet. This long-term vision indicates the company's ambition to become a major player in the tech landscape, extending its reach beyond the devotional niche.
In the near term, the startup is focused on expanding its network of partner temples, with a goal to reach 500 temples this year. This expansion will further solidify its position as the leading platform connecting devotees with religious institutions. To support its growth, AppsForBharat also plans to increase its headcount from the current 300 employees (including 250 at its Bengaluru headquarters) to approximately 400. This hiring drive will bolster its capabilities across technology, operations, and expansion efforts.
The success of AppsForBharat and the significant investment it continues to attract underscore a fundamental truth: technology is increasingly intersecting with all aspects of human life, including deeply personal and cultural practices like religious devotion. By providing a convenient, accessible, and increasingly comprehensive platform for Hindu devotees, Sri Mandir is not only building a successful business but also playing a role in the digital transformation of India's rich spiritual heritage. The latest funding round is a strong validation of this vision and provides the resources needed to accelerate its realization.
The blend of digital convenience and planned physical presence in key temple towns positions AppsForBharat uniquely to serve both the digitally native younger generation and traditional devotees. As internet penetration and digital payment adoption continue to rise across India, particularly in smaller towns and rural areas, the potential market for Sri Mandir's services is vast and largely untapped. The company's focus on authenticity, combined with technological innovation like AI, suggests a thoughtful approach to navigating the sensitive intersection of technology and faith.
The religious tech sector, while perhaps less discussed than e-commerce or fintech, is proving to be a significant area of growth and investment, particularly in culturally rich and populous nations like India. AppsForBharat's journey with Sri Mandir serves as a compelling case study in identifying and capitalizing on the unique opportunities presented by this evolving market. With strong investor backing and a clear strategic roadmap, Sri Mandir appears well-positioned to continue leading the charge in the digital devotion space, connecting millions of devotees with their faith in increasingly innovative ways.