Investments, News

Party Planners Evibe Gets Funding from Hyderabad Angels, Others

Bangalore-based Evibe.in, an online marketplace for party services has raised an angel round of funding led by Hyderabad Angels. Lalit Mangal (Co-founder, Commonfloor), Vikas Malpani (Co-founder, Commonfloor), Gaurav Bhalotia (VP Engineering, Flipkart), LV Prasad & Co. from BITS Alumni have also participated.

Hyderabad Angels was the lead investor in this round and accordingly Niraj Mital, an investor with Hyderabad Angels and P S Sreekanth, Investment Director at Hyderabad Angels would join Evibe’s Board as Director and Observer respectively.

With this funding, In the next 6-9 months Evibe will go deep in Bangalore by expanding across all celebrations such as pre-post weddings, house warming, conferences, etc.

“We are building a proprietary backend technology that scales and ensures 100% service delivery guarantee with minimal human interaction. We project to grow by 5x in terms of revenues & number of party bookings per month,” the company said in a statement.

The company will expand into all major party services including return gifts, invitations, variety artists & more. It will build a tech & operations team and will be focusing on results oriented marketing.

Evibe Team

Evibe Team

Founded in 2014 by B Anjaneyulu Reddy and Swathi Bavanaka, Evibe claims that it has been growing at an average 20% every month and served over 1,60,000 guests. It is an online platform for party planning with a range of packages including party hall, decor, photo shoot, etc.

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Other players which are operating in the online party planning space include BookEventz (formerly UrbanRestro), Weddingz, WeMeGud and Gigstartup among others.

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