Online price comparison service, MySmartPrice has raised around Rs 2 Crore from Helion Venture Partners and Accel Partners. The funding was first reported by VC Circle. Confirming the funding to MediaNama, Sulakshan Kumar, co-Founder of the company, informed that Helion had invested late last year, while Accel came on board in May, this year. The company intends to utilise the funding to expand its engineering team which, at the moment, stands at eight. Kumar added that the site would continue to expand its product offering, improve discovery and user accessibility. It plans to add Fashion Products (Clothes / Shoes) and Baby Products in medium term future (read 6 months), and according to him, product discovery will be a focus area, beyond price comparison, since a lot of segments (other than mobile) see users looking to explore new products and they don't know which particular product to buy. Users: The site claims to attract more than 2.5 million users, recording a 100% growth in the last 4 months. Kumar informs that users come trough social media, and word of mouth, and the company is not investing much interms of trade marketing, though it does use SEO for outreach. How does it work: Technology wise, MySmartPrice crawls some online stores, whereas others offer XML feeds of products and prices. Products and prices are updated every 24 hours, according to Kumar. Commercially, 50-60% online stores featured on the site offer an affiliate commission on each sale, whereas one particular store also offers a CPC…
