Delhi-based online wedding services marketplace ShaadiSaga has raised an undisclosed amount of funding as a part of its Pre-Series A round from ah! Ventures, Anupam Mittal (People Group), Kunal Shah and Sandeep Tandon (Freecharge.com), Dheeraj Jain (Redcliffe Capital), Rohit Chokhani (White Unicorn Ventures), and other angel investors.
According to the company’s statement, the recent fund infusion will be utilised for increasing the base of partners associated with the platform and building technologies, ensuring better customer experience, faster onboarding, smoother communication and higher conversion rates.
Dheeraj Jain, Managing Partner of Redcliffe Capital, said, “The revenue of Rs 50 lakh per month bears testament to the incessant progress of the company.”
Founded by IIT-Delhi alumni Himanshu Kapsime and Manish Garg, ShaadiSaga is an online platform that caters to all weeding-related needs, focusing primarily on weddings ranging between Rs 10 lakh and Rs 1.5 crore in cost. It allows users to choose services from a pool of around 2,500 vendors as per their requirements.
ShaadiSaga is the best suited solution for couples to plan their wedding as they save around 20-30 percent of their wedding budget and two months of planning time with us, while ensuring better quality and experience. Currently, we have a team of 25 employees, and will be adding more people as we expand to other cities,” said Manish.
The startup had earlier raised funds from Outbox Ventures to strengthen the employee base, expand to more cities and service categories, and develop further capabilities for various service providers to better manage their business online. In an earlier interaction with Yourstory, Manish said that in the next two years, ShaadiSaga will have a presence in the top 20 cities in the country, handling 20,000 weddings a year.
Harshad Lahoti, Founder and CEO of ah! Ventures said,
The Indian wedding industry is valued at $40 billion. Considering the high growth rate of 25-30 percent YoY, promising startups in this space were attracting investors’ attention.
A sneak peek at the wedding industry
With the intervention of technology in the traditional wedding industry, vendor discovery and wedding coordination have been unified in single apps, thereby altering the way local wedding vendors and couples discover each other. Even social platforms like Facebook, Instagram and Pinterest can be leveraged to discover the best vendors and venues, and enable the sharing of ideas.
WedMeGood.com allows users to view the wedding photographs of recently married couples in their city, see their reviews of the vendors they hired, and browse through a selected list of wedding vendors. It had raised Rs 2.7 crore in seed funding in a round led by Hemant Kanakia and Alok Mittal of Indian Angel Network (IAN).
Indear aggregates wedding content and products directly from wedding vendors and designers. Similar to Pinterest, users can pin their favourite content on boards and share the same with their family.
One of the founding members of Indian Angel Network, Alok Mittal said, “The wedding industry is currently disorganised, with very few reliable brands. The growing usage of mobile phones and the internet has opened up opportunities to put customers in control of their wedding experience. Over the next five years, I am confident that there will be two to three specialised wedding planning or execution startups beginning to gain scale.”