Weddingz.in raises pre-Series-A funds from Sixth Sense Ventures

Firm will use funds for technology, automation, team expansion and entry into newer areas like decor and honeymoon packages

Weddingz.in, a Mumbai-based online marketplace for wedding vendors and services, has raised an undisclosed amount in a pre-Series-A round of funding from consumer-centric venture capital firm, Sixth Sense Ventures.

Weddingz.in will be using these funds for technology, automation and team expansion. It is also looking at getting into newer categories like decor and honeymoon packages, founder and chief executive officer, Sandeep Lodha, said in a statement.

"The wedding industry in India is pegged at $40 billion, with 10 million weddings taking place annually. The market is growing at 25 per cent per year. However, it remains to be extremely fragmented with 100,000 vendors in top 20 cities. Weddingz.in aims to fill an obvious gap in the fragmented weddings and events industry - that of finding the right vendor at the right price," he added.

 

The one-year-old startup, which has raised over $1 million in seed capital from a group of angel investors led by Ambit Capital in December 2015, has around 2,000 wedding venues and an equal number of wedding vendors across 10 locations in India listed on its platform. Currently organising close to 150 weddings every month, Weddingz.in plans to reach out to the top 20 cities in the country by the end of 2016 and expand its footprint to 100 cities by 2017-end.

"We see the need for a credible platform in the fragmented and unorganised weddings space. The business model is unique and differentiated in comparison to the other listing platforms. Weddingz.in fits well into Sixth Sense investment thesis of 'first-generation entrepreneurs' creating disruption in spaces with large potential," said Swati Mehra, partner (investments) at Sixth Sense Ventures.