Gurugram-based online platform WedMeGood which helps users plan weddings raised $2.6 million in a Series A round of funding from Orchid India. According to a press statement, the company will use the funds to expand its operations, and to increase its product offerings.
Commenting on the fund raise, Anand Shahani, Co-founder, WedMeGood said,
“With the Series A funding, we are looking at expanding our market further, so couples in every nook and corner can have their dream wedding in their budget - because that is the dream we started with when we first established the company. We’re also looking at investing further in the product, user acquisition and diversification of revenue streams.”
Started in 2014 by husband-wife duo Mehak and Anand Shahani, WedMeGood is a wedding planning portal and resource guide aimed at making the process of planning a modern Indian wedding easy.
WedMeGood had last raised funding in September 2015, raising Rs 2.7 crore from Indian Angel Network (IAN).
According to industry experts, the Indian wedding industry is worth around Rs 1 lakh crore, and growing at 25 percent annually. Shaadisaga, Wedding Brigade and Bollywoodshaadis, among others, competing with each other in this segment. Last year, hospitality giant OYO also marked its foray into the segment after it acquired Weddingz, a wedding banquet management company.
Manoj Thakur, Managing Partner of Hornbill Capital and advisor to Orchid India said, “We believe WedMeGood has the best content and ideas that will inspire to-be brides and grooms to have their dream wedding. WedMeGood offers an effective platform for wedding service providers to showcase their offerings to the relevant audience. The team of Anand and Mehak bring the right balance of business acumen and creative talent. We are impressed with the excellent platform they have built and are excited to be a partner in their growth journey.”
WedMeGood claims to be associated with more than 30,000 vendors across the nation for various aspects of planning a wedding including venue, photographers, dress designers, makeup artists and more.