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