Online Wedding Planning Startup Weddingz.in Raised US$1Mn From Singularity Ventures
Mumbai-based online wedding planning startup including venues and vendors, Weddingz.in, has raised nearly US $1 million (Rs 6.8 crore) from Singularity Ventures. This development was first reported by TechCircle.
In February last year, Weddingz.in, run by Mumbai-based L-Fast Brands Pvt Ltd, had raised an undisclosed amount in pre-Series A funding from consumer-centric venture fund Sixth Sense Ventures.
In December 2015, it had raised $1 million in angel funding from a group of investors, including Google India’s managing director Rajan Anandan, film-makers Zoya Akhtar, Reema Kagti and Ruchi Narain, fashion designer Ritu Kumar’s son Amrish Kumar, and Ambit Private Wealth CEO Hrishikesh Parandekar.
Online wedding planning startup, Weddingz.in, was launched in January 2015. It is a technology-enabled wedding planning platform that simplifies the process of finding and booking services at the best prices. Initially, it started its operations in Mumbai, and now has expanded to 10 cities, including Delhi, Bengaluru, and Goa.
It expects to extend its reach to 20 cities, including Kolkata, Chennai, and Hyderabad, by the end of 2016. With a listing of more than 2,000 wedding venues and 2,000 wedding vendors across 10 locations in India, it calls itself the largest warehouse of wedding service providers. The company also claims to organize more than 200 weddings every month.
A bunch of startups in the wedding planning space have emerged in the last two years. The market for wedding-related services is estimated to be worth $40 billion in India, according to US-based venture capital firm CerraCap Ventures. Some of these ventures have also secured external funding.
In August 2016, Delhi-based online wedding planner ShaadiSaga raised an undisclosed amount in a pre-Series A round from ah! Ventures, People Group’s Anupam Mittal and other investors. FreeCharge’s Kunal Shah and Sandeep Tandon, Dheeraj Jain of Redcliffe Capital and Rohit Chokhani of White Unicorn Ventures were among the other angel investors in the round.