India: NDTV’s online wedding venture Special Occasion raises $20m from CerraCap

Photo by Arvind Balaraman. Image ID: 100166870

Media conglomerate NDTV’s new venture Special Occasion Ltd, an online wedding and festival planning platform, has raised $20 million in a funding round led by US-based venture capital firm CerraCap Ventures, according to a stock market disclosure.

The funds will be used to kick-start the new venture, which also marks foray of NDTV into the online wedding market space.

NDTV also announced the appointment of Sachin Singhal as the CEO of Special Occasion. Singhal has about 10 years of experience in the startups space and was also instrumental in setting and scaling up of online portal naaptol.com. He started his career with IT firm Tata Consultancy Services.

“The wedding industry in India is a $40 billion market which is highly disorganised and has operated the same way for decades. With India’s growing tech savvy populous, this market is ripe for disruption. Special Occasions has the right team, vision and platform to enable this disruption and be a leader in this space,” said Saurabh Suri, managing partner of CerraCap Ventures.

In the Indian online wedding planning space, Special Occasion will compete with the likes of WeddingPlz, WedMeGood and PlanningWale.

“This investment is a validation of our digital strategy. We have been able to demonstrate our capability with indianroots.com, gadget360.com, carandbike.com, all of which have seen keen investor interest. Weddings is yet another business where we already have a high brand recall through our marquee shows in the wedding space. We are confident that with CerraCap’s investments, we will be able to roll the latest of the NDTV ecommerce ventures, successfully,” said Vikram Chandra, Group CEO, NDTV.

Image Credit: Freedigitalphotos.net

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.