Chandigarh based price comparison website – Comparometer.in has raised Rs.1 crore from Brand Capital which is the investment arm of Bennett Coleman and Co. Ltd. (Times Group).
Founded in 2015, Comparometer compares prices from 26+ shopping websites of India. It has the largest curated database of products from shopping websites in India, the startup claims. There are more than 150 categories of products ranging from men, women, fashion, electronics, mobiles, home & kitchen appliances, baby products, pet products, furniture, sports, health, beauty products etc. are available on the website. It helps you discover the best product at the lowest price. Their USP is comparison of online prices with the offline.
With a team of 10 employees, Comparometer is operating from Mohali currently. Founded by Vineet Saini, Jaspreet Singh & Sarvjeet Singh in September 2015, Comparometer got selected by Facebook’s Fbstart program in April 2017.
“We want to help the consumer get the lowest price. We love comparisons & so does saving your hard earned money, time & energy,” the startup said in a statement.
The startup had previously raised funds from Jaarvis Accelerator – Gurgaon and Truventuro – Germany. Mr Jan Valentin – Sr VP at Kayak.com is also a mentor & investor at Comparometer.
India is one of the fastest-growing e-commerce markets worldwide with millions of new internet users. The availability of economical internet data packs has revolutionized the online shopping in India in last 1 year. The trend of online shopping in tier 2 and tier 3 cities is growing aggressively. With this happening, Comparometer is looking to become the gateway for online shopping or flight booking.
With the current round of funding, Comparometer is looking at scaling the offline retailer base and running extensive brand awareness campaigns especially in the cities that are most active for shopping online. The vision for the company is to be known as the first go to platform for any kind of shopping or booking flights.
The other players operating in the space are CompareRaja, MySmartPrice, PriceBaba, PriceDekho, Junglee and Zopper among others.
Since its inception in 2005, Brand Capital has invested in total 554 companies, out of which, 18 are lead investments. This year, it has backed startups like PsyInnovations, Delybazar and FinREQ.