Mobile phone and tablet manufacturer Micromax has invested an undisclosed amount in price comparison and discovery service Scandid, reports TechCircle. Scandid is operated by Pune-based WishPoint Tech Pvt Ltd and started out as a website called ShoppingWish, later expanding to mobile in 2014.
Scandid lets you scan the barcode of a product to get its price in various stores online and offline. It also offers discounts and coupons, if any, for the product. The app is available for iOS & Android and there is an option for users to search for product prices manually without a barcode. Users can discover discounts across Flipkart, Snapdeal, Amazon and other e-commerce stores. Scandid also provides information from local retailers.
The company was originally founded in June 2012 by Sushil Choudhari, Madhur Khandelwal and Bhaskar Thakur. Khandelwal has moved on to a new venture according to his LinkedIn page and isn’t mentioned on Scandid’s About Us page.
The company had raised an undisclosed amount of angel funding from Sandeep Johri and other angel investors in 2013 and said that it would use the funds to gain user traction for ShoppingWish.in.
Micromax’s other investments
– In August, Micromax made an undisclosed strategic investment in an international startup called MiMedia which offers online backup and cloud storage services. Through its services, MiMedia Beta lets users store photos, videos, music and files to the cloud via the web, iOS and Android, offering 10GB of free storage.
– In June, Micromax made an undisclosed investment in online travel meta search engine and marketplace Ixigo. Following this investment, the two companies would work towards building on-demand and one-click travel experiences that would be integrated into Micromax devices.
– In February, Micromax had invested in a local analytics company for a ‘significant minority stake’, without revealing the name of the company, the amount invested or other terms of the deal. However, it did mention that it was looking for more startups to invest in, and would provide between $0.5 million and $20 million to startups in exchange for 5% to 26% of the stake.
Other developments in the price comparison domain
– Scandid’s rival MySmartPrice in July raised $10 million in a Series B round of funding led by Accel Partners and with participation from Helion Venture Partners.
– PriceBaba extended its service to four new cities Chennai, Hyderabad, Baroda and Surat, adding to a total of 11 cities across India. The company, which claims to receive over 3.5 million users every month, also has a physical presence in Mumbai, Bangalore and Delhi.
– JustDial’s plans of launching a price discovery engine have been successful since the app, offers quotes and a “buy now” button to buy products or services online and offline. It now appears like a directory cum marketplace. The company had also said that it would launch its Search Plus app for Android and iOS by the end of this month.
– Quikr had also introduced an instant messaging service Quikr Nxt on its platform that allowed buyers and sellers to interact before the actual transaction. This essentially will allow also buyers to compare prices across stores.