Indian weddings are known for their over the top celebrations and expensive gifts. However, many people experience getting duplicate gifts or irrelevant gifts which contribute to wastage of resources. WeddingWishlist aims to solve this problem through its unique platform and has secured 2 crores in seed stage funding for the same.
Ex-Facebook India MD Kirthiga Reddy, Multiples Equity founder Renuka Ramanath and CherryTin participated in this round along with other investors. The four-month-old startup is already planning to raise another round of funding later this year.
Concept of WeddingWishlist
WeddingWishlist allows prospective couples to create their wishlist of items which they would like to receive as gifts. They can share this wishlist with their close family members and friends with whom they feel comfortable.
The guests can browse through the list which carries items according to the price range. In this way, they can buy gifts which actually fulfill a real need of couples. Talking about the utility of such platform, founder of Weddingwishlist, Kanika Subbiah says,
“This way, the couple receives gifts that are relevant to their married life. And guests can be certain that their gift is meaningful and cherished by the couple. Overall, it reduces waste, discourages recycling of gifts, and ensures that the considerable money spent on gifts is spent well.”
The startup also allows guests to buy gifts through its marketplace. It works on commissions with each of its partners who sell required items on its platform.
Present situation and expansion plans
Due to its unique concept, Chennai-based WeddingWishlist has already managed to launch in popular cities. These include Pune, Chandigarh, Ahmedabad, Mumbai, New Delhi, Kolkata, Bengaluru, Chennai, Hyderabad, Ludhiana, and Amritsar.
It plans to use the fresh amount of funding to expand further into more cities and reach 500 wishlists by the end of this year. It is also planning to launch a mobile app in coming few months.
Furthermore, the startup is in talks with charitable institutions where couples can encourage their guests to donate towards a cause instead of gifts. It is also looking for partnerships and collaborations for more new categories of gifts such as ‘Products’ & Experiences’.
This will allow experience gifts for couples such as tailor-made travel getaways and honeymoon packages by travel experts.