SUMMARY
● Founded in 2023 by Jayani Hardik, the startup also offers unique traditional Original Rudraksha wearables (Lab Testing Card With Every Item) and Spiritual accessories.
● Since its inception, it claims to have served 50 Thousand customers. Japnam serves 5K customers monthly and claims to secure annual revenues of more than INR 1 CR
● Currently, it is in talks with a host of VCs and angel investors to close its seed funding round at Valuation Of INR 5 Cr
The Indian religious and spiritual market, valued at $58.56 billion in 2023, is expected to grow at a CAGR of 10% until 2032. This growth has spurred the rise of the spiritual tech ecosystem, led by companies like AstroTalk, AppsForBharat, Sri Mandir, TempleConnect, Guruji, and AstroBuddy. Japnam is striving to make its mark in the Indian spiritual realm by offering original Rudraksha jewellery and ornaments. Initially, the Gujarat-based startup sold a few Rudraksha wearables like bracelets and malas on its website. It has since expanded its product line to include gold-plated bracelets, necklaces, and idols. The company has grown from averaging 50 orders daily in its first quarter to 200 daily orders, with an average order value of INR 700.
Can Japnam Disrupt the Faith Market? Despite the initial success, translating positive online sentiment into sales was a challenge for Jayani and his team. They identified that the Rudraksha-based ornament market was dominated by traditional designs with little innovation. By targeting office goers aged 25 to 45, Japnam has successfully tapped into a younger audience.
Japnam’s unique product designs and focus on authenticity have been key to its success. The company rigorously tests its Rudraksha products in labs and enforces strict quality standards for vendors to ensure originality. Additionally, Japnam benefits from a network of micro-influencers who create educational videos about their products. The company also launches new and unique products around festivals. For Rakshabandhan in 2024, Japnam introduced “Rudraksha Ki Rakhi,” hoping to attract significant customer interest.
Website: https://japnam.in