Direct-to-consumer devotion and style brand PrabhuBhakti has raised an undisclosed amount in a seed funding round, led by Prajay Advisors.
Founded in 2021 by Samast Ahlawat and Raju Kumar, PrabhuBhakti is a consumer brand that focusses on three key categories in the spirituality and devotion space - apparel, silver jewellery, and puja items.
“This capital injection will enable us to expand our product range, reach new markets,” co-founder Ahlawat said in a statement.
This round was advised and facilitated by Capitalcorn, a fundraising platform for early-stage startups. NA Shah Advisors acted as a transaction adviser to Prajay Advisors.
The startup also aims to grow 10x by expanding its user base as well as its product offerings, Ahlawat added.
It claims to have recorded 100% growth on a quarter-on-quarter (Q-o-Q) basis.
“The company bridges the gap between faith and fashion by offering a range of religious products designed to resonate with today's youth,” added Prakash Mody, founder, Prajay Advisors.
This is the second consumer-focussed investment by Prajay Advisors in the last three months.
In October 2023, Prajay Advisors had invested an undisclosed amount in men’s casual wear-focused apparel maker Madsto, in its seed funding round.
On the other hand, the spiritual market has seen an increased interest both from the operator side as well as from investors.
Earlier this week, DevDham (previously DevDarshan), a virtual spiritual platform that aims to connect devotees globally with Hindu temples, offering online daily darshan, pujas, and digital donations raised $720,496 (Rs 6 crore) in seed funding from early-stage investors Titan Capital, All In Capital, Veda VC and TDV Partners.
