Bangalore based online price comparison website Findyogi, has raised INR 55 lakh (USD 100K) in seed funding from Raju Vanapala, founder-CEO Way2SMS. The fund raised will be allocated for strengthening the technology and the data team.
FindYogi was launched in October 2012, it collects first hand data about products and their features alongwith price comparison. Currently only mobiles and tablet computers can be compared on the website. Other product categories including laptop, camera and other consumer durables are expected to be added in next few months.
Commenting on the investment, Raju Vanapala said, “The space around shopping assistance and buying decisions is interesting. Given the buzz around ecommerce in India, consumers are coming online for shopping related activity. Though a lot of them may not end up buying online but the decision making still happens on the web. Given the founder’s work at previous startups, I trust FindYogi should make it big in the space.”
Naman Sarawagi, founder and CEO of FindYogi, said that, FindYogi helps buyers in making better buying decision as bad purchase decision is not only painful for the consumer but also bad for the industry in the long run. “We still have a long way to go in terms of product and reach before we can claim that we have solved the problem successfully,” he added.
Recently, FindYogi has also launched a new version of website.
FindYogi was co-founded by Naman Sarawagi and Anil Bhat, prior launching FindYogi Naman was part of the initial team at Freecharge, whereas Anil was part of the technology team at Novell and Yahoo for over 6 years. Currently it is a ten member team.
Other dealings in the same space include Pricesbolo, MySmartPrice, Compareraja.