The Bangalore-based wedding services start-up, Meragi, has raised $9.1 billion in its Series A funding led by Accel.
The company would use the fresh infusion of funds to expand into additional cities, launch partner venues and experience centres and offer tech products to its customers.
The Bangalore-based wedding services start-up, Meragi, has raised $9.1 billion in its Series A funding led by Accel.
The fund saw participation from existing investors such as Peak XV partners, Venture Highway and Angel Investor Anupam Mittal.
The company would use the fresh infusion of funds to expansion and innovation offering tech products to its customers.
Speaking about the company which offers a wide range of wedding services, Mukund Mohan Raj, one of the co-founders of Meragi said, “we’ve built the most advanced system globally—the entire supply chain is modularised and digitised, enabling us to reliably deliver hundreds of events a month. The fresh funds will be used to develop similar cutting-edge systems across all services.”
co-founded by Abhinav Chandran, Lakshmi Narayan B, and Mukund Mohan Raj, the end-to-end wedding service startup offers services such as wedding planning, decoration, photography, catering, and more.
Pratik Agarwal, Principal at Accel, said, "Meragi's innovative, full-stack, all-in-one customer experience is transforming the wedding industry, and we are confident their vision will resonate nationwide, creating lasting memories for families.”
In the last financial year, the company generated Rs 48 crore in gross merchandise value (GMV) and aims to double this in the current financial year, targeting Rs 100 crore.
The wedding startup had received $4.4 million in a previous fundraiser in 2023.
India's wedding industry is estimated to have grown to $130 billion and it is stated that an average household spends Rs 12 lakhs for a wedding According to a recent Jefferies report.
India's wedding spend-to-GDP ratio stands at 5x, significantly higher than several other economies, according to the Jefferies note.