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Bengaluru-based wedding services startup Meragi is set to raise Rs 28.68 crore in a fresh funding round from its existing investors Accel India, Peak XV Partners, and new investor DG Daiwa Ventures. The round appears to be a bridge round, as the company has not raised any capital in the past two years. In July 2024, the company had raised $9.1 million in a funding round led by Accel, along with Peak XV Partners and Venture Highway. The company’s board has passed a special resolution to issue 3,330 compulsorily convertible preference shares (CCPS) and 10 equity shares at a price of Rs 85,880.21 per share to raise the fresh capital. Accel India will lead the round with Rs 14.34 crore, while DG Daiwa Ventures will invest Rs 9.56 crore and Peak XV Partners Rs 5.56 crore. As per Entrackr’s estimates, Meragi will be valued at around Rs 305 crore post-money, remaining flat compared with its previous funding round. Founded in 2021 by Mukund Mohan Raj, Abhinav Chandran, and Lakshminarayan B, Meragi provides wedding-related services such as decoration, photography, videography, makeup, hairstyling, mehendi, catering, venues, entertainment, and invitations. Following the allotment, Accel India will hold a 22.14% stake in Meragi, followed by Venture Highway and Surge Ventures with 15.92% and 15.85%, respectively. Peak XV Partners and DG Daiwa Ventures will hold 7.80% and 3.17% stakes, respectively. The company operates in a competitive wedding-services market alongside WedMeGood, ShaadiSaga, Weddingz.in, Shaadilogy, Wedding Cloud, Shaadi Baraati, and The Wedding Brigade.
document fetched 2026-09-01 02:51