Online marketplace for wedding venues and vendors, Weddingz.in has raised an undisclosed amount in pre-Series A funding from consumer-centric venture fund Sixth Sense Ventures. In November, the startup had raised about $1 million (around Rs 6.7 crore) in angel funding from a group of investors, including Google India’s managing director Rajan Anandan.
Funds from the pre-Series A round will be used by the year-old Mumbai-based startup towards technology and automation and team expansion, according to an official statement issued by the company on Monday.
[ You May Also Like – Why People Unfollow Your Brand on Social Media ]
“We are also looking at getting into newer categories like decor, honeymoon packages, and enhance our customers experience by technology development like making virtual tours of venues on the website possible,” said Sandeep Lodha, founder and chief executive of Weddingz.in.
“The wedding industry in India is pegged at $40 billion, with 10 million weddings taking place annually. The market is growing at 25% per year. However, it remains to be extremely fragmented with 100,000 vendors in top 20 cities. Weddingz.in aims to fill an obvious gap in the fragmented weddings and events industry – that of finding the right vendor at the right price,” Lodha said.
Weddingz.in allows consumers to check availability and shortlist venues by themselves or get assistance from Weddingz.in relationship managers. They can also book services at guaranteed best prices, as well as destination weddings through the platform.
“Convenience of a one-stop shop for all wedding related services “at the best rates”, makes Weddingz.in an ideal platform for couples.Further sophistication and transparency to all stakeholders, disrupts the way the industry is structured,” said Swati Mehra, partner – Investments at Sixth Sense Ventures.
Weddings.in is currently in 10 cities across the country, and plans to expand across the top 20 cities in India by the end of 2016, and the top 100 by the end of 2017, the press release said. The company also claims to organise more than 150 weddings every month.
[ Also Read – The Big Brand Theory ]