Bangalore Start-up OfferGrid Receives Seed Investment from MyFirstCheque

We’ve received news that Bangalore-based OfferGrid has received seed investment from MyFirstCheque, a seed fund that invests in budding Indian start-ups.

OfferGrid is a start-up that builds internet products. Its flagship product is OfferGrid Exchange which is basically a deals aggregator with more than 6,000 deal offers collated from Indian and U.S. markets.

The aggregator is just a part of the big plan. OfferGrid Exchange also distributes its aggregated deals through publishers — bloggers, mobile apps, etc. — to help publishers monetize their traffic through its white label service. For example, a gadget blog could syndicate gadget deals which serve the interests of gadget lovers.

The investment will help OfferGrid Exchange to focus on publisher relations and to monetize their traffic. Deepankar, Co-founder & CEO of OfferGrid remarked:

With our offering, we intend to address this requisite gap and look forward to connecting with interested deal suppliers and web or mobile publishers to empower the consumer to shop from wherever he is.

Details about the investment haven’t been disclosed. But a typical seed funding from MyFirstCheque is within the range of US$10,000 to $50,000.

This is the third investment made by MyFirstCheque. The other two were Mericar (a car service and repair web portal for India) and MKay (multiple online resumé submission service).