Evibe, the online marketplace for party and event planners, which we covered back in January last year, is getting into the funding books now. The startup has nabbed an undisclosed Angel round from Hyderabad Angels, who are joined in by a few other angels as well.
Founded in 2014, Evibe lets you plan birthday parties by providing everything you need to make that party, a successful bash. The platform offers you numerous curated packages, along with the ability to connect directly with numerous party vendors across your city. In short, an online marketplace where you meet party planners without having to travel long distances in that snarling traffic.
Talking about his companies plans to use this fresh capital boost, CEO Anjaneyulu Reddy says,
Over the next six months we would like to go deeper into the Bangalore market. So far we have processed 1500-plus orders. We plan on extending our services to vendors through ERP and financial statement management,
The startup is further building a proprietary backend technology that it claims, scales and ensures 100% service delivery guarantee with minimal human interaction. Evibe projects to grow by 5x in terms of revenues & number of party bookings per month. We will expand into all major party services including return gifts, invitations, variety artists & more that makes Evibe a truly one stop platform for celebrations.
Do note though, that Evibe isn’t the party organiser in itself. It acts as a middleman for you, so that you don’t have to waste hours planning for the right decoration, the right food, the right ambience among other things — yup, a sort of Uber for party planners.
Evibe takes care of every single aspect you can think of — current trends afloat in your city, packages at the best value price, vendor portfolios which promise to be reliable and are verified, with their pricing information, all the past work those vendors have done (so you can call and confirm) and customer reviews.
The platform, due to its middleman-model, does not charge customers for their services, and instead charge a small commission fee from party vendors. These services are curated, and you get into direct contact to the vendors through Evibe’s platform.
And just to put things into perspective and make you aware of this segment’s massive potential, India’s extravagant celebrations market is worth a whopping Rs. 200 crore, and growing exponentially. The celebration industry is growing around 20% – 25% annually and estimated to be around $12B.