February - 2014 - issue > Venture Beat

Price Comparison Portal MySmartPrice raises '6 Crores from Accel and Helion

SI Team

Wednesday, February 5, 2014

Forward

MySmartPrice, a Hyderabad based price comparison portal, raises Rs.6 crores from its existing investors Accel Partners and Helion Ventures. Founded in 2010 by Sitakanta Ray and Sulakshan Kumar, MySmartPrice is a platform which lets the customers discover the best products across a wide array of categories that include mobiles, electronics, computers, fashion and lifestyle, cameras, books, appliances and personal care. The company had previously raised Rs.2 crores of funding in July 2012 from Accel Parnters and Helion Ventures.

MySmartPrice plans to use the raised fund to improvise its existing offerings and also become a horizontal player by listing prices of almost all products sold online in India. Its price comparison engine enables the users to find the best place, best deals and offers from all major e-Commerce stores in the country.

The two graduates in Mechanical Engineering for NIT Rourkela started MySmartPrice as a price comparison site for books which is now a broader price comparison site for products across categories. MySmartPrice have more than four million users pan India on a monthly basis. Kumar and Ray further plans to use fund to focus over their mobile strategy and expansion to become the easiest way to find products at the best price and create a product that can be counted in one of the best products globally of its type.