Delhi-based WMG Tech Pvt. Ltd, which owns online marketplace for wedding management WedMeGood, said it has raised $2.6 million (Rs 17.8 crore at current exchange rate) in a Series A round of funding from Orchid Asia Group, an investment fund which primarily invests in China.
In a press note, the company said that Orchid is also an investor in Chinese travel firm Ctrip.com.
Anand Shahani, co-founder of WedMeGood, said the latest round of funding will be used for market expansion, product development, user acquisition and diversification of revenue streams.
Manoj Thakur, managing partner of Hornbill Capital and adviser to Orchid India, said, “We are excited about the Indian wedding industry, and see great synergies and learnings from Orchid’s investment in the market leader in China (which is Hunliji, a wedding planner application.”
Hunliji has raised close to $140 million so far, according to information available with Crunchbase, the startup database of tech publication TechCrunch.
In 2015, WedMeGood had secured Rs 2.7 crore ($407,200 then) in seed funding from Indian Angel Network (IAN).
Founded in February 2014 by husband-wife duo Anand and Mehak Shahani, WedMeGood helps prospective couples to plan everything related to their wedding. The company claims to have more than more than 30,000 vendors across 18 categories that include wedding venues, photographers, planners, cards, and videography.
Operational in all major cities like Bengaluru, Delhi, Mumbai, the startup offers its solutions through its Android and iOS mobile apps.
Mehak, a post-graduate from the Delhi School of Economics (DSE), worked as an analyst at American Express before co-founding this venture while Anand, an alumnus of XLRI-Jamshedpur, was a marketing manager with Abbott Nutrition. In 2011, Mehak had also founded Peachesandblush.com, a blog site for beauty product reviews.
Recent deals in wedding management space
- April 2019: Flatpebble, an artificial intelligence-driven cataloguing platform for photographers and videographers, raised a bridge round of funding led by Indian Angel Network (IAN).
- March 2019: Online-to-offline venue booking platform VenueLook raised an undisclosed amount in its pre-Series A round from angel investors.
- Marriage ceremony solutions portal The Wedding Brigade (TWB) raised $1 million (Rs 6.9 crore then) in a pre-Series A funding round led by early-stage investment firm Blume Ventures and Japan-based Akatsuki Entertainment Technology Fund.