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Accel leads $10m Series B round for MySmartPrice

  • Holden Mann
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Accel Partners has led a $10 million Series B round for Indian online price comparison and discovery platform MySmartPrice. Helion Ventures also took part in the round.

The two firms previously supported MySmartPrice through two previous funding rounds, first committing INR20 million ($360,000) in a seed round in 2012, and then investing $1 million in Series A round in 2014.

MySmartPrice will use this latest capital injection for marketing and hiring, and to expand into the hyperlocal delivery segment, according to TechCrunch. It also plans to add more offline partners and open up 100,000 retail stores.

Founded in 2010 as a technology price comparison portal, MySmartPrice now gathers prices from India's online retail sites across a wide range of products, including fashion, books, media, appliances, and many others. Earlier this year it added an offline price comparison service for mobile phone stores in certain cities.

Other recent India investments by Accel include its participation in a $10 million round for services marketplace UrbanClap, alongside SAIF Partners. It also joined Dragoneer Investments and IvyCap Ventures in a $16 million round for online jeweler BlueStone. Helion meanwhile previously led a $30 million round for big data analytics firm Axtria and participated in an $8 million round for payment solution Ezetap.

 

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