Indian price comparison site PriceBag raises $2M

Product discovery and price comparison engine PriceBag.com, owned by Gurgaon-based Accentium, raised US$2 million in funding from undisclosed angel investors. The investment will be used to further develop the site and market it, the company announced.

India is a very price-conscious society, and consumers could do with a little help on finding the right prices online. So this is a natural market for review and comparison sites. Amazon-owned Junglee.com leads the space in the country, and there are several others like Naaptol, MySmartPrice, and PriceDekho. Like those, PriceBag too lists a wide range of items. Users can find and filter products across categories, compare based on features and prices across stores, read and write reviews, and make an informed buying decision using its search engine.

In a statement announcing the funding, director of Accentium Vivek Pahwa was surprisingly candid. He said:

We realize that we’re not the only people in this space or the ones ahead in terms of product set, but by prioritizing the right things and ramping up product development, we hope to be one of the leaders in this space in 12 months.

Currently, the site has covered most of the electronics categories, including phones, tablets, laptops, and cameras. Their plan is to expand to other important ecommerce categories as well. With the fresh funding, they aim to integrate social shopping features with their current offering by including more user reviews and social profiles.

The parent company, Accentium, runs two other portals, SecondShaadi.com, a matrimonial site for second marriages, and 99Cars.com, an automobile news site. The funds raised will be used to expand those as well.

See: The Price is Right: 8 hot shopping search engines in India