Online wedding planning portal Myshaadi.com raised an undisclosed amount of funding from Indian Angel Network (IAN). Four investors from the consortium concluded the deal – Rajan Anandan, Sunil Kalra, Ashim Mehra and Rehan Yar Khan, who will also join the board of directors at Myshaadi.in.
Abhishek Jain, an NIT Jaipur graduate and founder of the website said, “The fund will help us to strengthen operation and further improve our suite of services”. Jain had launched the portal in February of 2011. Previously, Jain was working with IBM GBSC, India.
The portal provides a platform for couples to plan wedding events, make personalised wedding sites and also offers varied services such as share invitations, share photographs, budget calculator, shopping list, to do list, etc.
A year into operation, the site claims to have served more than 13,000 couples and aims to have over 1 lakh couples by this year end. The website also has an active blogging section run by experts that lists latest trends and concepts in jewellery, make up, clothing, honeymoon destinations.
While the focus of websites in matrimonial space such as Bharatmatrimony.com, Shaadi.com, and Vivaah.com lies in match making, the concept of Myshaadi.in is relatively new. It focuses entirely on planning the whole wedding.
Rajan Anandan, investor from IAN said, “What caught our attention towards Myshaadi.in was that there was hardly any significant and focused player in the matrimony domain who offered a gamut of matrimony services catering to Indian audience. With wedding industry being the fourth largest contributor to India’s GDP, Myshaadi.in is certainly in a very lucrative space.”
According to Abhishek Jain, founder Myshaadi, the USP of the site is its simplicity, the ethnicity of designs and the fact that they are ad-free, among others. “Services of Myshaadi.in will enable the new generation of internet savvy to-be-married couples a unique opportunity to extend their marriage to an online world”, said Jain
A little late entrant in wedding planning segment, Myshaadi’s competitors include FirstPhera, WebVivah, Marrymeweddings, Shaadionline, Indianweddingsite among several others.
In January this year, BigIndianWedding Pvt. Ltd, another wedding planning portal had raised funds from an undisclosed Indian business family. Shadimagic, another concept portal on similar lines was launched last year and provides online wedding magazine, shopping portal, listing for vendors and agencies.
The Indian Angel Network, started in 2006 is a consortium of over 180 members and has over 25 investments across varied sectors such as IT, Mobile, Retail, Tourism and Education. In 2011 alone, IAN invested nearly US$10Mn in 10 start-ups and had invested Rs 2 crore in Birds Eye Systems, a Mumbai-based venture that provides information on traffic conditions.