Meragi Raises $9.1 Million Led by Accel

Wedding services startup Meragi has raised $9.1 million in a Series A funding round led by Accel, with participation from existing investors Peak XV Partners, Venture Highway, and angel investor Anupam Mittal.

Why it matters: The fresh funds will enable Meragi to expand its operations, establish partner venues and experience centers, and offer new technology products to consumers, further solidifying its position in the growing wedding services market.

The details:

• Meragi, founded in 2021 by Mukund Mohan Raj, Abhinav Chandran, and Lakshminarayan B, offers a wide range of wedding-related services, including decoration, photography, videography, makeup, hairstyling, mehendi, catering, venue, entertainment, and invitations.
• The startup claims to have successfully delivered over 3,000 events in just two years and has a presence in key Indian markets, including Bengaluru, Hyderabad, and the National Capital Region.
• Meragi plans to expand its operations to Gurugram and Jaipur within this year and explore new categories such as venues and catering.
• The company generated Rs 48 crore in gross merchandise value (GMV) last financial year and aims to double this in the current financial year, targeting Rs 100 crore.

India’s wedding industry has grown significantly, now estimated at $130 billion, with an average household spending Rs 12 lakhs on a wedding, according to a recent Jefferies report.

What they’re saying:

• “Having successfully delivered over 3,000 events in just 2 years, we’re eager to grow Meragi into a household name. Alongside our previous investors, Peak XV Partners and Venture Highway, we are thrilled to welcome Accel to our journey. With their expertise and support, we are confident in bringing the Meragi experience to thousands of more couples and families in India,” said Abhinav Chandran, co-founder and CEO.
• “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,” commented Pratik Agarwal, Principal at Accel.

What’s next: With the new funding, Meragi is poised to expand its reach, enhance its technology offerings, and cater to the evolving needs of modern couples and families in the Indian wedding market.

Full story

Bengaluru-based wedding services startup Meragi has raised $9.1 million in a Series A funding round led by Accel. Existing investors Peak XV Partners, Venture Highway, and angel investor Anupam Mittal also participated in the round. Meragi plans to use the fresh funds to expand its operations to new cities, establish partner venues and experience centers, and offer new technology products to consumers.

The startup is also exploring additional categories such as venues and catering. Founded in 2021 by Mukund Mohan Raj, Abhinav Chandran, and Lakshminarayan B, Meragi provides a wide range of wedding-related services. These include decoration, photography, videography, makeup, hairstyling, mehendi, catering, venue, entertainment, and invitations.

The platform allows users to discover, design, and purchase these services and products for various lifestyle events.

meragi’s growth and expansion plans

It also offers destination wedding packages in popular locations like Goa, Coorg, Chikkamagaluru, Mysuru, and Bengaluru.

Meragi claims to have a presence in key Indian markets such as Bengaluru, Hyderabad, and the National Capital Region. The startup now plans to expand its operations to Gurugram and Jaipur within this year. “Having successfully delivered over 3,000 events in just 2 years, we’re eager to grow Meragi into a household name.

With their expertise and support, we are confident in bringing the Meragi experience to thousands of more couples and families in India,” said Abhinav Chandran, co-founder and CEO. In the last financial year, the company generated Rs 48 crore in gross merchandise value and aims to double this in the current financial year, targeting Rs 100 crore. This latest funding round follows a previous one last year, where Meragi secured $4.4 million led by Peak XV Partners’ Surge scale-up program.

The wedding services market in India is estimated to be worth $130 billion, with an average household spending Rs 12 lakhs on a wedding, according to a recent report by Jefferies.