Hyderabad-based IESoft Technologies, which runs price comparison portal Pricejugaad.com, has raised R1 Cr from Amit Tyagi (assistant vice president of Aditi Technologies), Sandeep Acharya (senior manager of Genpact) and several other senior vice presidents from investment bank & technology companies.
The funds will be utilized to expand its team size and product offering.
With the many sellers and marketplaces online, price comparison and product discovery sites, be it niche (gadgets or insurance) or across categories, have been attracting investor interest.
Recently in this space;
Gadget research site, 91mobiles had raised close to $1 Mn in its pre-Series A round led by Anand Lunia’s India Quotient.
PriceBag had secured an angel investment of $2 Mn from undisclosed investors; zopper.com had raised $5 Mn (c.INR 300 Mn) from Tiger Global Management LLC along with the existing investors Blume Ventures and Nirvana Venture Advisors.
Currently, Pricejugaad also has about 200 offline stores listed for price comparison and 30 online stores.
In India at least 10 price comparison websites including the Hyderabad-based firm specialises in sentimental analysis and price analytics to stand out from the crowd.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.