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Wedding service marketplace Meragi to receive $8 M from Accel: Reports

Two people with knowledge of the development say that Meragi, an online marketplace for finding, creating, and buying all wedding-related services and goods, is about to raise $8 million in a new funding round.

“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.

Along with Arintra, AltWorld, Bifrost, Calyx Global, Diri Care, Masterchow, Metastable Materials, RedBrick AI, Requestly, Tentang Anak, and Vaaree, Meragi was a member of the eighth cohort of Peak XV’s accelerator program Surge.

Meragi, which was founded in 2021, offers contemporary wedding-related services like décor, makeup, hairstyling, videography, invitations, venue, catering, and entertainment. Users of the platform can find, create, and buy these goods and services for a range of lifestyle occasions.

Additionally, it provides destination wedding packages in Bengaluru, Mysuru, Goa, Coorg, and Chikkamagaluru.

Meragi has raised approximately Rs 40 crore ($4.5 million) to date from Surge, Venture Highway, and angel investors, including Ramakant Sharma, co-founder of Livspace, according to information obtained from the company’s regulatory filings.

According to the media, Surge currently holds a 25% stake in Meragi, making it the largest external stakeholder. Three co-founders, Mukund Mohan Raj, Lakshminarayan Balasubramaniam, and Abhinav Vinay Chandran, each own 14.25% of the company, with Venture Highway controlling 20% of the business.

Interestingly, Livspace employed all three of the co-founders for about five years. In the market are ShaadiSaga, Wedmegood, Wedding Brigade, and Shaadilogy, among others.

 

 

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