Spiritual Essential Firm Poojai Raises USD 1M Funding from BVC
Poojai, a brand of Rudra Retail Private Limited has raised USD 1 million from Billionaire Venture Capital (BVC) with plans to expand the business at global level. Poojai was founded by one of the youngest start-up founders in India, Sresht Kalanjiam, with a vision to integrate technology with tradition.
Growing up in a spiritually inclined family, it was only natural for him to embark on this journey to revolutionise the spiritual essentials industry. The brand under the umbrella Rudra Retail Private Limited, focuses on the spiritual essentials market in India, which is estimated to be around USD 44 billion, and has bigger plans for global expansion.
“The scope of the spiritual goods market is immense and is expected to expand at a CAGR of 10 per cent making it the fastest-growing business after the IT sector in India. This also offers incredible export prospects for us with enormous upside potential, and investors are eager to invest there. And with spiritual tourism booming in India, there’s no turning back,” said Sresht Kalanjiam.
South India presently dominates the Indian spiritual market which is primarily driven by the rapidly expanding consumer demand for top-notch spiritual goods for a variety of medicinal, religious, and spiritual uses. The rising acceptance of Indian spiritual activities like yoga and meditation in the west, particularly in the USA, Canada, and European nations, is a significant element driving the market for Pooja goods created in India.
But the present supply rate for spiritual goods is just half of the current demand, which is over 1,500 metric tonnes per day. Poojai is determined to close this gap between supply and demand for devotional goods, alongside creating large-scale employment opportunities, especially for rural women all across India.
“Along with disrupting the spiritual essentials market, we want to create a positive impact on people’s lives, and we’re elated to have Billionaire Venture Capital on board, which strengthens our cause moving forward,” Sresht added.
Poojai is a devotion-driven brand of Rudra Retail Private Limited specialising in crafting spiritual essentials of the purest form that assures a divine aura and ambiance essential for conducting auspicious occasions, rituals, and prayers.
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