MySmartPrice Raises $1M Funding From Existing Investors
MySmartPrice.com, the leading Indian price comparison site has raised Rs. 6 Crore (about $1 Million) from their existing investors Accel Partners and Helion Ventures. Though the announcement was made today, they had raised this round in December of last year.
They had previously raised their seed funding of Rs. 2 crore in July 2012, from Accel and Helion.
According to mail sent to us, MySmartPrice will utilize this funding to expand the product categories offered on their site. MSP currently has 2 main categories Electronics, Books & Fashion. They have decent traction for first 2 categories.
In their words – “MySmartPrice aims to transform from a category player to a true horizontal player with infusion of Series A funds”.
Hyderabad based MySmartPrice was founded in 2010 by Sitakanta Ray and Sulakshan Kumar and currently has a team of 30 people. In terms of traffic, MSP are clocking close to 10 million visitors per month – It has more than doubled over past 12 months.