Mumbai based Weddingz.in, an online platform which allows consumers to discover & book venues and wedding services, has raised over $1 million (around Rs 6.7 crore) in angel funding from a group of investors, including Google India’s MD Rajan Anandan. The other investors who participated in the round include film makers Zoya Akhtar, Reema Kagati and Ruchi Narain, Indian designer Ritu Kumar’s son Amrish Kumar, and Ambit Private Wealth CEO Hrishikesh Parandekar.
The company aims to utilise the raised funding for automation, marketing, expanding operations to more cities, and expanding the user base.
Weddingz.in covers 10 cities in India – Mumbai (HQ), Delhi NCR, Bengaluru, Rajasthan (5 cities), Pune and Goa. Launched just 4 months ago, the startup has already served thousands of families and closed hundreds of bookings. It plans to extend its reach to 20 cities, including Kolkata, Chennai and Hyderabad, by the end of 2016.
The company uses a mix of technology and people to solve all wedding needs – the customer has to call and give his requirements. It includes a range of 2000+ wedding services and a directory of 1500+ venues (including destination wedding venues) to discover and find venues.
Talking about its initial days, Founder and CEO of Weddingz, Sandeep Lodha says, “When we found it difficult to get clients, we even went to local pundits and traditional marriage brokers to source leads. Today, we are servicing 1000s of leads a month.”
The company is targeting over 1000 venue bookings a month over a period of 12 months. Geographically, the startup wants to be present across the top 100 cities of India. It will continue to add new product offerings like honeymoon packages, gift registry, etc.
Commenting on the market size, Sandeep Lodha says “The market is large and growing very rapidly. With the demand that we are seeing today, we aim to get to 10% market share in 3-4 years and thus, become a $4 billion company.”
Others in the Indian online wedding planning space include WeddingPlz, WedMeGood, Marryinaweek, WeddingPlz and PlanningWale. In September, WedMeGood raised Rs.2.7 crores funding in the seed round which was led by Indian Angel Network (IAN). Marryinaweek had already raised Rs.1.5 crore of seed funding and is in talks to raise more funds to scale up the wedding marketplace app. Media firm, NDTV has also launched its online wedding and festival planning venture named Special Occasions Ltd. this month, which raised funding from US-based CerraCapital Ventures.