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Exclusive: Accel to lead $8 Mn round in wedding service marketplace Meragi

Entrackr · 4m

Meragi, an online platform to discover, design and purchase all wedding related services and products, is all set to raise $8 million in a new round, according to two people aware of the development. “Accel will lead the round while existing backers Surge and Venture Highway may also participate. The deal is in the final stage as all paperwork has been completed,” said a source requesting anonymity. Meragi was part of the eighth cohort of Peak XV’s accelerator program Surge which also featured Arintra, AltWorld, Bifrost, Calyx Global, Diri Care, Masterchow, Metastable Materials, RedBrick AI, Requestly, Tentang Anak, and Vaaree. Launched in 2021, Meragi provides modern wedding-related services such as decoration, photography, videography, makeup, hairstyling, mehendi, catering, venue, entertainment, and invitations. The platform allows users to discover, design, and purchase these products and services for various lifestyle events. It also offers destination wedding packages in Goa, Coorg, Chikkamagaluru, Mysuru, and Bengaluru. Accel declined to comment on the story while queries sent to Meragi’s co-founders did not elicit any response until publication of the story. As per data sourced from the company’s regulatory filings, Meragi has raised around Rs 40 crore ($4.5 million) to date from Surge, Venture Highway and angels including Livspace’s co-founder Ramakant Sharma. Currently, Surge is the largest external stakeholder in Meragi with 25% stake, according to startup data intelligence platform TheKredible. Venture Highway controls 20% stake while three co-founders Mukund Mohan Raj, Lakshminarayan Balasubramaniam, and Abhinav Vinay Chandran hold 14.25% stake each in the company. Notably, all three co-founders were part of Livspace for around five years. ShaadiSaga, Wedmegood, Wedding Brigade, and Shaadilogy, among others also compete in the space.