BackVoodoo raises $1 million from SAIF Partners
The deals and price comparison app will use the fund for team expansion and product development
Premium
New Delhi: Delhi-based Voodoo Technologies Pvt. Ltd, which owns and operates deals and price comparison app Voodoo, has raised $1 million in a seed round from SAIF Partners, the company said in a statement on Tuesday.
The app was launched last week and the company claims to have over 1,200 downloads so far.
It will use the fund for team expansion and product development. Currently, the team consists of 10 people. It plans to hire 15 more people across operations and technology divisions by the end of December 2015.
The start-up was founded in July 2015 by Mohit Mittal and Vijay Simha Reddy whose previous start-up Preburn was acquired by online recharge website FreeCharge in August 2014 for an undisclosed amount.
According to Mittal, Voodoo is an automatic app and acts like a digital assistant, which would keep suggesting users the best options even as they surf though other mobile apps such as Paytm, Jabong, Flipkart, Snapdeal, Amazon, Shopclues, eBAY and Myntra.
It integrates with all the apps on a customer’s device and curates deals, compares prices, gets coupons and gives recommendations for online shopping.
“You just keep using your phone the way you have always used, and Voodoo will automatically appear wherever it finds an opportunity to save your money, or time," said Mittal.
The app also mines out all the coupons that are in circulation across a variety of apps and provides a quick way to apply for the coupons on the checkout page.
“Voodoo has taken a unique approach to offer a rich experience to mobile users across categories such as shopping, travel, cabs, food etc. When we saw the product for the first time, we could immediately see its compelling value prop as consumers," said Mukul Arora, principal, SAIF Partners.
Other price comparison sites available in the space are PriceDekho, Junglee and MySmartPrice. MySmartPrice also raised $10 million in a second round of venture funding from Accel Partners and Helion Venture Partners in July.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
