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Ambit Private Wealth raises Rs 8.2 crore investment in WeddingZ.in

L Fast Brands Pvt Ltd., owner and operator of the brand and online portal www.weddingZ.in, has raised an angel Round (pre series A) funding of Rs 8.2 crore.

, ET Bureau|
Updated: Dec 15, 2015, 02.41 PM IST
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L Fast Brands Pvt Ltd., owner and operator of the brand and online portal www.weddingZ.in, has raised an angel Round (pre series A) funding of Rs 8.2 crore.
L Fast Brands Pvt Ltd., owner and operator of the brand and online portal www.weddingZ.in, has raised an angel Round (pre series A) funding of Rs 8.2 crore.
NEW DELHI: L Fast Brands Pvt Ltd., owner and operator of the brand and online portal www.weddingZ.in, has raised an angel Round (pre series A) funding of Rs 82 million. The investors include Rajan Anandan, managing director of Google, reputed family offices and angel investors. Started by alumni of Wharton, IIT Delhi and IIT Roorkee, the firm aims to become the largest online marketplace for weddings.

Weddingz.in, launched in May 2015, is a marketplace and discovery platform for wedding services, venues and vendors. The company stated it is a one stop shop for all wedding and event requirements and can connect individuals and families to the right options based on their requirements, budgets, taste and style.

The firm is currently operational in 10 cities including Delhi, Mumbai, Bangalore, Pune and Goa and would utilise these funds for marketing and brand building. It plans to reach out to the top 20 cities by the end of 2016 and 100 cities by 2017-end.

Ambit was the advisor for this round. The amount is being raised from Ambit Private Wealth’s HNI clients.

Talking about future plans, Sandeep Lodha, founder and CEO WeddingZ.in said: “ What we are seeing is a strong and growing demand that we are unable to fulfill. This funding will help us expand our reach and be relevant to a larger audience.”

Hrishikesh Parandekar, CEO, Ambit Private Wealth added: “The wedding planning industry is still largely fragmented and lends itself very well to structured platforms like WeddingZ. It is our constant endeavor to bring proprietary investment ideas to the marketplace and we are enthused by the interest shown by both experienced and first time investors.”

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