PriceBaba, a shopping intelligence startup has secured seed investment from a group of five investors. Launched in May 2012,
PriceBaba helps offline shoppers search prices in their vicinity. A recent Google India survey pointed that 70% of offline shoppers do their product research online before visiting a store. PriceBaba has been innovating in this space to help shoppers research prices and trusted stores to shop at.
The investment is led by Pune based angel investor and entrepreneur Karamveer Singh. Other investors include Dinesh Tejwani of Fast Fact Computer Systems (acquired by Thomson Reuters), Aditya Mishra (Founder & CEO, SwitchMe.in), Ashutosh Rathi (Basil Partners) and Ranjeet Walunj (Technology Chief, TSS Service Solutions).
“I am a strong believer of ‘research online & buy offline’ model in India. PriceBaba is right into it. Am excited to be a part of it” said Karamveer Singh. “Ankur and team has come up with a unique idea of connecting mobile phone buyers with mobile shops,
thereby ensuring lowest price for the consumer and more business for the seller. I am delighted to be part of PriceBaba” said Dinesh Tejwani.
“We love the fact that all our investors are entrepreneurs and the support we receive in every aspect of our business is invaluable. Karamveer is simply the best we could have asked for product and marketing advice, while Tejwaniji is a veteran entrepreneur
who brings an ocean of experience when working with retail partners.” said Annkur P Agarwal, co-founder and C2C, PriceBaba. “We intend to use the funds for strengthening the team and further developing the product.” he adds.
PriceBaba currently offers its services in Mumbai, Pune & Delhi NCR with over 350 verified mobile phone retailers live on the platform. Each of these 350 stores have gone through a 2 step evaluation process including a personal visit by a verification team.
The service aims to reach 10 cities in 2013.