Shaadi.com’s Anupam Mittal, other angels invest in Shaadisaga
The company will use the money in technology enhancement and expanding its partner base
New Delhi: Online wedding platform Shaadisaga on Wednesday said it had raised an undisclosed amount in its pre-series A investment round from Anupam Mittal, founder of matrimonial website Shaadi.com, Freecharge founders Kunal Shah and Sandeep Tandon, and Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital.
ah!Ventures and Rohit Chokhani of White Unicorn Ventures were among the other investors who participated in the round.
The company will use the money in technology enhancement and expanding its partner base.
Founded by Himanshu Kapsime and Manish Garg, Shaadisaga offers couples wedding planning services, providing photographers, make-up artists, marriage venue and so on.
It claims to have 2,500 service providers across different categories.
“Our team is using technology to essentially bring the offline wedding planning experience onto an online platform, while adding convenience and cost-effectiveness,” said Kapsime.
The 25-people team focuses on weddings costing between Rs.10 lakh and Rs. 1.5 crore.
“India’s wedding industry, valued at $40 billion, with 25-30% growth year on year, is proving to be one of the sturdiest in today’s market,” said Garg.
The company currently claims to be earning Rs.50 lakh per month.
Shaadisaga is likely to compete with start-ups such as Mumbai-based L-Fast Brands Pvt. Ltd, which runs Weddingz, an online market for wedding venues and vendors. It raised over $1 million from a group of angel investors, including Google India’s managing director Rajan Anandan and film makers Zoya Akhtar and Reema Kagti in December.
Other start-ups that have raised funding in this space include names like WedMeGood which got Rs.2.7 crore from the Indian Angel Network.
Last year, New Delhi Television Ltd also announced an online wedding market venture, Special Occasions. It raised an undisclosed amount at a valuation of $20 million.