For Bright Ventures this is the first investment in an Indian startup. The fund is a Dutch early stage venture firm and growth fund for technology-driven businesses.
Mumbai-based Priceburp Media Pvt. Ltd, which runs coupons and online deals portal PriceBurp.com, has raised under $100,000 (less than Rs 60 lakh) from Bright Ventures, an early stage investment company based in the Netherlands. The investment will be used to facilitate tech development and hire workforce, accoding to a VCCircle report.
“We are targeting to grow store partners to 2,500 stores by the end of next month. We are already adding close to 1,500 coupons every week, for the 850 stores that we’ve already partnered with,” Nirav Dave, founder & director, PriceBurp told VCCircle.
“The site has covered most of the categories including coupons and deals for electronics, fashion, health & beauty, home & lifestyle and travel, etc. We now plan to expand to other important e-commerce categories as well including online education and other services,” he added.
The company was founded in 2011 by Dave, who has been a graphic designer in various capacities in Cinemax, another entertainment company Get Me In, besides his own startups Adswale.in, Capsicum Mediaworks LLP. He had also started out Zarahutke.in, an offbeat travel service company.
For Bright Ventures this is the first investment in an Indian startup. The fund is a Dutch early stage venture firm and growth fund for technology-driven businesses. It was founded in 2012 by Paul Montagne, an informal investor and internet entrepreneur.