Accel, a venture capital firm, led the $9.1 million fundraising round for wedding services business Meragi.
Existing investors including Venture Highway and Peak XV Partners also participated in the round. Using money from its initial fund, Venture Highway, an early-stage fund that Silicon Valley-based venture capital firm General Catalyst acquired in June of this year, made an investment in the business.
The money will be utilised to open experience centres and partner locations, as well as to grow into other cities.
Read also- Israel-Based Zenity has Secured Undisclosed Amount in Funding
“We are also expanding deeper into newer categories, like venues and catering. We’re going to spend our money on building more advanced tools,” cofounder and chief executive Abhinav Chandran told ET in an interaction. Having successfully delivered over 3,000 events in just two years, we’re eager to grow Meragi into a household name,” he said
The Bengaluru-based firm was established in 2021 and provides end-to-end wedding services, such as catering, décor, photography, and planning.This year, the company intends to expand to Gurgaon and Jaipur in addition to its present locations in Bengaluru, Hyderabad, and Goa.
Read also- Hong Kong-Based Animoca Brands has Partnered with LayerZero Labs
Commenting on the investment, Pratik Agarwal, principal at Accel, said, “Weddings in India are celebrated with deep cultural significance. With rising aspirations, couples today are seeking memorable experiences but within their budgets…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.”
The startup’s most recent fundraising round, which included Venture Highway and was spearheaded by Peak XV Partners’ Surge scale-up program, brought in $4.4 million in 2023.
About Meragi
Meragi is creating an online marketplace where customers can search, create, and buy any kind of wedding-related goods or services. They are a handy one-stop shop for anything you need for your wedding.
