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BookEventZ.com, an online portal for event bookings, has raised an undisclosed amount in Series A funding from iconic global fund manager Mark Mobius-backed venture capital firm Equanimity Ventures. The company, which has been profitable for the last one year, intends to use the funding for expansion plans.
“This is purely a 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 Rs 4 crore per month, which would also rise about Rs 15 crore per month by the end of this financial year, she added.
BookEventZ.com was boot-strapped in 2013 by entrepreneur Harsh Baid with an investment of about Rs 50 lakh, and later in November 2015, the company raised seed funding from Mumbai Angels. In October 2016, it raised another funding (all undisclosed) from Mumbai Angels, Lead Angels and LetsVenture.
Following the expansion, the company also expects its number of event bookings to rise to 600-700 per month by end of the calendar year, from the present 200 every month.
The company, which has served more than 3.5 lakh events till date and lists over 10,000 properties in India, expects to increase the number of flagship venues to about 1,000 by 2021.
Mumbai-based Equanimity Ventures was founded by Rajesh Sehgal, who was formerly with Franklin Templeton Investments.
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