Wedding platform The Knotty Tales has raised its seed capital of $60,000 from a clutch of angel investors. The identities of the investors have not been disclosed. This may just be the precursor to a larger fund-raising exercise, possibly a pre-Series A funding.
The Knotty Tales, fashions itself as a technology start-up and its business model as a digital wedding planning platform that caters to end-to-end requirements for weddings. They have mobile app that can be downloaded and used for placing the orders and booking the various arrangements. They bring all stakeholders on to one interactive platform starting with the wedding consultants first holding their discussions with the customers to understand their requirements.
The customers can receive suggestions on the vendors recommended for the onsite supplies and services. The purchase and source recommendations include for jewellery even. There is a guest management application that is useful in managing the whole process, from the invitations to the various functions around the wedding to the other requirements. Obviously, the objective would be to provide a pleasant and memorable experience for the guests at the wedding. The Knotty Tales will take the pressure off their customers through their intervention in the various arrangements being made.
Wedding planning and execution is a huge business in the country where thousands of weddings are held each day. A large part of the community in the country goes by the astrologically predicted auspicious days for weddings and this becomes very challenging since everyone wants the best banquet halls, best caterers and the best florists and so on. This is where a good wedding planner can be successful in planning ahead and if technology is also used, things can work out better.
This fundraising will enable the start-up to focus on new product innovation and further strengthen relationships with clients and vendors. Ultimately, for a sustained growth of the business, The Knotty Tales will have to raise more funds.