Meragi is a wedding service-providing startup that secured $9.1 million from Accel as a part of its series A funding round. The funding round had the participation of new and existing investors including Venture Highway, Peak XV Partners, and the founder of Shaadi.com Anupam Mittal. The startup plans to use these fresh proceeds to expand its services, and market expansion while providing more innovative tech product offerings.
This digital platform allows customers to book various wedding and function needs, including photographers, videographers, wedding décor, catering, makeup, and more. The startup provides an online platform that lets users discover, purchase, and design services and products for wedding and engagement celebrations. The company claims to offer an all-in-one solution for all wedding-related services. Meragi provides high-quality products and services at an affordable price. The startup also offers professional wedding planning professionals. Abhinav Chandran, Lakshminaryan B, and Mukund Mohan Raj co-found this wedding planning company. The startup plans to use some of this investment to expand its venues in new cities and launch new categories like catering.
The Co-founder and CEO of Meragi, Abhinav Chandran told inc42 in an interview that alongside the existing investors Peak XV partners and Venture Highway the company is now backed by Accel. The expertise and support from the tech giant provide Meragi with more resources and confidence to bring Mergai’s services to thousands of families across India. The startup is a part of Peak XV Partner’s accelerator program Surge’s eight cohorts. This featured 12 early-stage Indian and Southeast Asian startups. All the Surge startups have collected over 2 billion USD across follow-on funding rounds from co-investors and Surge. Meragi is one of the seven Indian startups under this program.
The company provides wedding packages in Bengaluru, Goa, Coorg, Mysuru, and Chikkamagaluru. The Bengaluru startup claims to have successfully organized over 3,000 events. The firm aims to expand its services in Gurugram and Jaipur this year. Meragi announced revenue of Rs 48 crore in FY23 and it is targeting revenue of around Rs 100 crore by the end of this financial year. The startup faces competition from other wedding services providers such as Wedding Cloud, Shaddilogy, Shaddi Barati Event Management, and more.
Conclusion:
Meragi is a wedding service startup that secured Rs 76.2 crore in a new funding round led by Accel. The round was part of a Series A funding round and had the participation of several investors including Peak XV partners, Venture Highway, and Anupam Mittal of shaddi.com. The company plans to use this funding amount to scale its team, enhance its platform, and expand its market presence. The company aims to offer high-quality services at an attractive price. Meragi plans to expand services in the Jaipur and Gurugram regions by the end of this year. The digital platform allows users to design, discover, and purchase different services for wedding celebrations such as catering, wedding décor, photography, makeup, and videography.
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