Wedwise.in, a portal for wedding planners, photographers, caterers and other related service providers, has raised seed funding from a boutique investment banking and consulting firm, StartUp Equity Partners (STEP). The raised funding will be used by the startup for the development of Wedwise TV, a YouTube channel focused on wedding planning and wedding themes.
Founded in May 2015 by Ginny Kohli, the portal allows customers to post a query to access vendors, and also see reviews and recommendations by others in the invite-only community.
The startup claims to have 25,000 members on the portal, of which close to 55% are vendors or service providers. It also claims to have a query posted every hour, which gets a response in less than a minute.
In March, NDTV launched its wedding solutions platform Bandbaajaa.com. The Indian wedding marketplace is estimated to be worth $40 billion in India, according to US-based venture capital firm CerraCap Ventures. Other players which are operating in this space include, Weddingz.in which raised an undisclosed amount in pre-Series A funding from consumer-centric venture fund Sixth Sense Ventures and WedMeGood raised seed funding worth Rs 2.7 crore ($407,200) from Indian Angel Network in September. Other wedding planning portals are WeddingPlz, PlanningWale and FullOnShaadi among others.