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Wedding services startup Meragi mops up $9.1 million in round led by Accel

Economic Times

Economic Times · 11m ago

Wedding services startup Meragi mops up $9.1 million in round led by Accel

Wedding services startup Meragi has raised $9.1 million in a funding round led by Accel. The funds will be used to expand into new cities, establish partner venues and experience centers, and develop advanced tools. Meragi offers end-to-end wedding services and currently operates in Bengaluru, Hyderabad, and Goa. The company aims to double its business and reach a revenue of Rs 100 crore by the end of the current financial year. Accel believes Meragi's innovative, all-in-one customer experience will resonate nationwide and transform the wedding industry.

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Two generative AI firms, two others secure early-stage funding

VCCircle

VCCircle · 11m ago

Two generative AI firms, two others secure early-stage funding

Gnani.ai, Vitra.ai, Meragi, and ElectricPe have all secured early-stage funding. Gnani.ai, a voice-first generative AI company, raised Rs 30 crore ($4 million) in a Series A round led by Info Edge Ventures. Vitra.ai, specializing in advanced language translation solutions powered by generative AI, received funding from IIFL Fintech Fund. Meragi, a wedding services startup, raised $9.1 million in its Series A round led by Accel. ElectricPe, a full-stack super app for EV charging, secured $3 million in a pre-Series A round led by Green Frontier Capital. These funds will support business growth and expansion efforts.

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

Entrackr

Entrackr · 1y ago

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

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.

Proost, Swish, PeLocal, Theranautilus bag early-stage cheques

VCCircle

VCCircle · 8m ago

Proost, Swish, PeLocal, Theranautilus bag early-stage cheques

Proost, Swish, PeLocal, and Theranautilus have recently announced securing early-stage investments. Proost, a beer startup, raised $3.5 million in a Series-A round led by Chimes Group and Srinivasan Namala. Swish, a food-delivery startup, completed a seed funding round raising $2 million with participation from Accel, Urban Company founders, and Karthik Gurumurthy. Fintech startup PeLocal received $2 million in seed funding led by Unicorn India Ventures and plans to expand its payment services through WhatsApp. Theranautilus, a deep-tech startup, gained $1.2 million in seed funding led by pi Ventures for developing nanorobotic solutions for healthcare.

Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus

Inc42 · 1m ago

Exclusive: Telecom Startup WIOM Raises $35 Mn In Round Led By Accel, Prosus

WIOM, a telecommunications startup, raised $35 million in a funding round led by Accel and Prosus, with participation from existing investors. Founded in 2015 by Ashutosh Mishra, Satyam Darmora, Nishit Aggarwal, and Maanas Dwivedi, WIOM was initially known as i2e1, providing affordable internet services to offline retailers. After the 2020 launch of the PM-WANI scheme, it rebranded to WIOM. This round values WIOM at $200 million.

Zepto mops up another $350 mn in an entirely domestic funding round

VCCircle

VCCircle · 8m ago

Zepto mops up another $350 mn in an entirely domestic funding round

Indian quick commerce startup, Zepto, has raised $350 million in its latest funding round from domestic investors, including family offices and financial institutions. The funding brings Zepto's total capital raised to over $1.35 billion. Notable participants in the round include Motilal Oswal AMC, Abhishek Bachchan, and Sachin Tendulkar. Zepto operates a network of micro-warehouses to deliver groceries and essentials to customers in minutes. The company previously raised $340 million in a funding round led by General Catalyst. Zepto's valuation now stands at $5 billion.

The Wedding Company raises $1 Mn in pre-seed round

Entrackr

Entrackr · 6d ago

The Wedding Company raises $1 Mn in pre-seed round

The Wedding Company raises $1 Mn in pre-seed round The company will use the funds to expand operations into new cities, invest in product and technology, and build a vendor partner network to standardize service delivery at scale. The Wedding Company has raised $1 million in a pre-seed funding round co-led by LVX (formerly LetsVenture) and Tremis Capital, with participation from other investors including Wakefit co-founder Chaitanya Ramalingegowda, Ajith Pai, and Dropbox co-founder Arash Ferdowsi. The company will use the funds to expand operations into new cities, invest in product and technology, and build a vendor partner network to standardize service delivery at scale. Founded in 2023 by Pawan Gupta and Rahul Namdev, The Wedding Company is a wedding planning and fulfillment platform that allows Indian couples to plan, book, and execute weddings. Operating in multiple cities, the platform connects users with verified vendors, offers competitive pricing, and manages execution across key service areas. The company aims to build a technology-enabled platform to streamline India's $130 billion wedding market. It provides services across venues, photography, décor, catering, and logistics. “Weddings in India are large and complex,” said Pawan Gupta, co-founder of The Wedding Company. “While the market is large, there is no brand managing fulfillment at scale. TWC is building a technology-driven and operationally efficient planning and fulfillment platform.” The Wedding Company has managed over Rs 60 crore (~$7.2 million) worth of service orders, delivering over 1,000 weddings across eight cities. Over the past 24 months, monthly bookings have grown significantly, exceeding Rs 10 crore in service orders and Rs 1 crore in net monthly revenue. The company recorded a Gross Order Value (GOV) of Rs 40 crore. Its current booking volume exceeds Rs 10 crore per month. It is targeting 3x growth in FY26 with an annual revenue goal of Rs 120 crore. Other startups in this space include Meragi, Weddingz.in, Wedding Cloud, Shaadilogy, Shaadi Baraati Event Management, among others.

Tata Digital-backed Cult.fit raises $10 million in funding round led by Valecha Investments

Economic Times

Economic Times · 1y ago

Tata Digital-backed Cult.fit raises $10 million in funding round led by Valecha Investments

Bengaluru-based health and fitness platform Cult.fit has raised Rs 84.5 crore ($10.2 million) in a funding round led by Valecha Investments. Other investors in the round include Gul Advani of Sun-n-Sand Hotels and Extreme Brands LLP. This funding comes after the company's cost-cutting measures in January 2024 that led to employee layoffs. Cult.fit offers online and offline fitness services, including group workouts at its centers and online training. The startup had previously raised over $650 million from investors like Accel and Temasek, and was valued at over $1.5 billion after a funding round led by Zomato in 2021.

The Hosteller, RecommerceX, LiaPlus AI, Nautical Wings bag early-stage funding

VCCircle

VCCircle · 10m ago

The Hosteller, RecommerceX, LiaPlus AI, Nautical Wings bag early-stage funding

The Hosteller, RecommerceX, LiaPlus AI, and Nautical Wings have all secured early-stage funding. Backpacker hostel chain The Hosteller raised $4 million in a Series A funding round led by V3 Ventures. RecommerceX, a chemical recycling startup, raised $3.6 million in seed funding led by Accel and Kae Capital. Customer support provider LiaPlus AI raised Rs 2 crore in a seed round led by Inflection Point Ventures. Electric propulsion technology solutions startup Nautical Wings received funding from Venture Catalysts and 1Crowd. The funds will be used for expansion, technology development, and business operations.

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

VCCircle

VCCircle · 6m ago

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

Snabbit, a quick-services app, BPR Hub, a compliance management platform, Chelvies Coffee, and Postudio have each secured early-stage funding. Snabbit raised $5.5 million in a Series A round led by Elevation Capital and Nexus Venture Partners. BPR Hub secured $2.6 million in seed funding from Accel and Kae Capital. Chelvies Coffee raised $1 million led by Endurance Capital. Postudio received $1 million in pre-seed funding from Audacity Venture Capital for expansion and development.

Eruditus raises $150 mn from Chan Zuckerberg Initiative, others

Inshorts · 9m ago

Eruditus raises $150 mn from Chan Zuckerberg Initiative, others

Edtech unicorn Eruditus has raised $150 million in a funding round led by private equity firm TPG at a valuation of around $3 billion. Softbank, Accel, CPP Investments and Chan Zuckerberg Initiative were among the other participants in the round. Eruditus CEO Ashwin Damera said the startup will also initiate plans to move its domicile to India from Singapore.

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