Delhi based product search engine for online shoppers Buyt.in raises $1Mn strategic investment from ValueFirst
Delhi based search engine and price comparison platform Buyt.in has raised $1 million as strategic investment from digital advertising firm ValueFirst. The raised investment would primarily be used for revamping user interface of the website and developing mobile apps across all major operating systems.
The company also looking to foray into middle east and South-east Asia. Following the investment ValueFirst CEO Vishwadeep Bajaj will join the board of the company. Buyt is primarily an e-commerce meta-search and discovery engine which aims to help shoppers’ find stuff online. The startup also offers aggregation and comparison for relevant categories.
Speaking to YourStory Simran Jit Singh, co-founder and head of strategy and business development, Buyt.in said “There were two investors interested in putting money in Buyt, however we choose ValueFirst as it brings its marketing expertise for our team. ValueFirst will be our strategic partner and will take care of our marketing operations and execution”.
Launched in 2012 by Yogesh Tomar, Biswanath Patel, Simran J singh and Sunil Jain – Buyt enables shoppers to search and compare product prices from 100 e-commerce portals. The startup covers several product categories such as mobiles, televisions, apparel, shoes, cosmetics with several others.
Earlier this month Bangalore based FindYogi secured Rs.55 Lakhs from Raju Vanapala, the founder-CEO of Way2SMS. In January this year Mumbai based price comparison platform for offline retailers Pricebaba raised seed investment from a group of five entrepreneurs cum investors.
Similar to ecommerce in India, price comparison and product search engine space is getting overcrowded. Importantly, over the past eight months 5 platforms operating in the product discovery space had raised investment and it would be interesting to watch how theses companies fare up in the future.