500Startups bets on Pricebaba, takes 5 Indian startups in its 6th accelerator batch

Mumbai based location based search engine, Pricebaba had raised undisclosed amount of funding from 500 Startups and existing angels Karamveer Singh and Dinesh Tejwani, states the latest blog post by the PriceBaba team. With this investment by 500 Startups, PriceBaba will join the next batch of the US based accelerator.

“Today, we are a team stronger than every before and our challenges are even greater. We are happy to welcome onboard a new set of partners who add tremendous value to PriceBaba and open up a new realm for us. Pankaj Jain, Paul Singh, Dave McClure, Christine Tsai and the team over a 500 Startups!”

For Pankaj Jain, Venture Partner for 500 Startups in India, Pricebaba is solving an important problem for consumers as well as offline retailers and as a space it will benefit greatly from the approach.

Previously, in January this year it had raised undisclosed amount funding in seed investment from 5 investors, which was led by Pune based angel investor and entrepreneur Karamveer Singh, Dinesh Tejwani (Fast Fact Computer Systems), Aditya Mishra (Founder & CEO, SwitchMe.in), Ashutosh Rathi (Basil Partners) and Ranjeet Walunj (The Service Solutions).

Price Baba is a location based search engine which helps shoppers to search prices in their vicinity. It connects mobile shoppers to the offline mobile shops, and currently has 5 cities listed on their platform including Mumbai, Pune and Delhi-NCR. It claims to have over 400 retailers listed on the website. With this Pricebaba plans to reach 10 cities in 2013.

It was started in 2011, by Annkur P Agarwal and Tirthesh J Ganatra.

Pricebaba is among the five Indian Startup that will be joining the Spring 2013 batch of 500 Startups, other include,

1) Tuskhy: Mumbai based local activities marketplace

2) Seat 14A: Delhi based men’s fashion site

3) School Admissions: Delhi based online portal for education decisions

4) Credii: Bangalore based platform for software and service recommendation

500 Startups is an early­stage fund and seed accelerator located in Mountain View, CA. They invest primarily in consumer & SMB internet startups, and related web infrastructure services. Their initial investment capital size is between $25K­ – $250K.

Spring 2013, will be the 6th Batch of 500 Startups with over 28 startups all across the world, the program provides investment, mentors & designers in residence, creative workspace, etc to the startups.

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