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BookEventZ.com, an online portal for event bookings, has raised an undisclosed amount in Series A funding from venture capital firm Equanimity Ventures.
Mumbai-based Equanimity Ventures is backed by global fund manager Mark Mobius.
BookEventZ.com, which has been profitable for the last one year, intends to use the funding for expansion.
“This is purely growth capital that we have raised, and the funding will be used to increase our number of flagship properties. We have about 30 venues now, and we intend to take it to 100 properties by October,” BookEventZ.com founder Shriti Chhajed said. The company’s present GMV stands at about ₹4 crore per month.
It will rise to about ₹15 crore per month by the end of this financial year, Chhajed added.
BookEventZ.com was boot-strapped in 2013 by entrepreneur Harsh Baid with an investment of about ₹50 lakh.
Following the expansion, the company also expects its number of event bookings to rise to 600-700 per month by the end of the calendar year, from the present 200 every month.
The company, which has served more than 3.5 lakh events till date, has listed over 10,000 properties in India.
It expects to increase the number of flagship venues to about 1,000 by 2021.
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