Sequoia Capital India and Beenext Ventures are in the last leg to put resources into an otherworldly startup drove by one of the previous organizers of Trell, as per three individuals mindful of the subtleties of the exchange.

“Sequoia and Beenext are in a high level stage to siphon in $4 million in AppsForBharat,” said one individuals refered to above mentioning secrecy.

Joined last November, AppsForBharat is building up a scope of portable and web applications transcendently zeroing in on the profound and reverential requirements of Indian clients. As per the individual refered to over, its lady application, which is in secrecy mode, would base on reverential space and give day by day aarti, chalisa, panchang, horoscope among others.

“The term sheet has been settled and the exchange is required to be reported soon,” said the second source who likewise mentioned obscurity. “AppsForBharat would be esteemed at $16 million (post-cash) in this exchange,” said the subsequent source.

Prashant Sachan, the sole author of AppsForBharat, was the prime supporter of the way of life driven short video application Trell until March 2021. Critically, the half year old organization had effectively brought about $200K up in a seed round from Sequoia Capital India and Trell in April, administrative filings show.

Questions shipped off Sequoia, Beenext and AppsForBharat didn’t get any prompt reaction. We’ll refresh the post on the off chance that they do.

The possible interest in AppsForBharat approves the way that investments are open for moving open doors in the otherworldly and reverential space. The space is alluring for financial backers because of the enormous crowd size and expanding cell phone infiltration.

As indicated by an Expert Market Research report, the religion and otherworldliness market in India was roughly worth $44 billion out of 2020 and expected to develop with a CAGR of 10%.

“There is a solid connect to trade in this section and offers openings for organizations to make substance and assemble local area on top of which they can sell items and administrations. This can likewise prompt the production of D2C marks in this classification as the market is for the most part unbranded and chaotic,” said Satish Meena, fellow benefactor of legendary narrating stage Sutradhar.

Sutradhar had additionally raised seed assets from Titan Capital and a couple of holy messengers including Suraj Saharan and Nitin Saluja. As per administrative filings, the organization had raised $110K from these financial backers.

While there were a few new companies that have sprung up in ongoing chance to catch opportunity through substance and trade, numerous new businesses throughout the long term had attempted various models yet they didn’t scale and neglected to stand out for investors.

Begun around 2014-15, OnlinePrasad, Muhurtmaza and MyPundit were early evangelisers in this space. Notwithstanding, these organizations didn’t develop to any sizable scale. As of now, Sutradhar, MyMandir, 27 Mantra among a couple of others are prominent parts in the reverential and strict areas.