Why we invested in AppsForBharat?
In recent years, India has experienced a significant transformation in how people engage with digital content and goods. With the deepening penetration of mobile internet and the ubiquity of smartphones, digital platforms have become essential tools for fulfilling various needs, from entertainment and education to spirituality. Digital video is now larger than television in certain areas of the country, with online sports setting global viewership records. The reach of online news is higher than that of newspapers or news television. This shift represents a broader movement towards integrating technology with traditional practices, making content more accessible and personalized. This shift has opened new opportunities for content delivery, audience interaction, and revenue generation.
As digital content and goods gained prominence, we observed a unique opportunity in the intersection of technology and spirituality. Recognizing the growing importance of digital spirituality, we are thrilled to announce our investment in AppsForBharat. This platform uniquely addresses the underserved digital and spiritual needs of the Indian population.
Launched in 2020, AppsForBharat began with its inaugural app, SriMandir, aiming to become the premier platform for fulfilling the spiritual needs of over a billion devotees globally, particularly within the Hindu faith. Spirituality and devotion are woven into the fabric of life and culture for many Indians, transcending typical demographic indicators and even differing religious beliefs. A Pew Research Centre report highlights that 84% of Hindus view religion as crucial to their lives, with 59% engaging in daily prayer. Significant life events often prompt even greater spiritual engagement, from weddings and new careers to other major milestones, drawing people closer in times of struggle or loss. Despite this deep-rooted spiritual presence, the actual practice of faith remains largely offline. However, the shift toward nuclear families and increased digital access to products and services are reshaping cultural and traditional norms, laying the groundwork for a company like AppsForBharat.
AppsForBharat stands out with its comprehensive approach to digital spirituality. SriMandir is envisioned as a virtual hub for devotees to craft personal digital shrines, enjoy devotional content, listen to hymns, join prayer groups, and explore a vast collection of spiritual texts, scriptures, and videos.
Prashant’s ability to create a product that resonates with local users is evident in the platform’s design and content. This deep market insight gives us confidence in their ability to scale and adapt to the evolving devotional needs both in India and abroad. For the non-resident Hindus living overseas, access to spiritual resources is often limited. SriMandir bridges this gap, allowing them to stay connected to their roots despite physical limitations and time constraints.
At Susquehanna, we have seen the scaling up of companies like Douyin/TikTok, Yalla, Kumu, and Ximalaya serving consumers with unique products that aren’t merely clones of existing businesses. AppsForBharat leverages the power of the internet to connect temples with their congregations, enabling participation in services that are digitally initiated but fulfilled at the sanctum sanctorum. Priests and temples partnering with AppsForBharat can now enrich the lives of many more devotees, regardless of their location. Older individuals who might struggle to visit distant shrines can now connect more deeply with their faith from the comfort of their homes.
Time and time again, businesses have been built on either the seven heavenly virtues or the seven deadly sins. AppsForBharat transcends these traditional frameworks; instead, it operates on a broader canvas, helping humankind achieve peace and happiness anytime, anywhere. By facilitating spiritual connection and practice, the platform contributes to overall well-being and serenity, embodying values that extend beyond mere commercial success. AppsForBharat creates a positive-sum ecosystem by enriching lives as devotional experiences become more accessible, without taking anything away from traditional practices.
AppsForBharat is not just a digital platform; it’s a bridge between tradition and technology, enriching the spiritual lives of millions. We are excited to be a part of this journey and look forward to supporting their growth and success.
This brings our India portfolio to 19 (list here) and AppsforBharat joins our other digital content businesses in the India portfolio (MPL, Inshorts, Public). While content has become ubiquitous, we believe there’s immense untapped value in curation and delivering high-quality services in tandem with content consumption. We continue to be on the lookout for ambitious teams using content as the wedge to create new spend baskets online. If you’d like to share feedback on our thoughts above or if you’re building in content, digital goods, or services, please write to Kanishk Mehta at kanishk.mehta@sig.com – we’d love to share our learnings and help out along the journey.