Wedmegood.com , the Gurgaon based wedding planner portal have raised a seed funding of amount worth INR 2.7 Crore in their Seed Round Funding. The funding round was led by Mr Hemant Kanakia and Mr Alok Mittal from Indian Angel Network. Wedmegood has been operational for over 1 year and they started their operation in Q1 2014.
Wedmegood will be using this funding for further development of their product and will invest it their technology division. They will also be looking at their expansion and increment of vendor supply. Wedmegood is working on mobile app development which is expected to be launched in near future.
Wedmegood is currently operation in Delhi and Mumbai. They will soon be hitting Bangalore, Hyderabad, Kolkata and Chennai.
More than funding, we are excited about opportunity of expansion and mentoring that we will receive from Investors. – Anand Shahani (Co-founder)
Wedmegood is a wedding portal which offers complete wedding services. They have around 3000 vendors in their cycle and includes almost all providers including Videographers, Photographers, Stylist, Decorators, make-up artists etc.
Our Take on Wedmegood Funding
The Wedding genre in India is an everlasting myth. This market is worth $30 billion with almost every family being indulged into such activities. There are players like Bollywoodshaadis and Shaadisaga who have already been operational. Though Wedmegood is exciting and is different, still it would be interesting enough to know what they does with this funding.
Also, as per our analysis, application development for activities which are non-repetitive (i.e. not repeated again in span of a month) is not high worth as people might not want install an app for one time activity or even if they does, it will ultimately turn out to be useless.