Buyt.in raises $1M funding
Product discovery portal, Buyt.in has raised USD 1 million from a Delhi-NCR based marketing company, reports iamwire. The official announcement will be coming by the end of July stated the report. The marketing company will providing economic support and will handle the marketing operations of Buyt.
One of the co-founders of the venture, Simran informed that the funding will be utilized to expand its team size and will work to optimize the website’s UI and UX for better customer experience. Furthermore, the funding money will be used to expand globally and tap international markets. “We look forward to get benefited from our investee’s experience of working in other international markets.” added Simran.
Once a user punches in any shopping query, Buyt throws up number of results from its various partner ecommerce websites giving a variety of choices for the consumer. Currently, the portal claims to have 5 million products listing and over 4,500 brands association including names like Flipkart, Snapdeal etc.
The startup has also received a successful copyright for its search algorithm in India and will be planning to go for a patent in US, due to certain difficulties in the patent process in India.
Buyt.in presently competes with Junglee.com, Nupinch.com, Mypriceindia.com, ShoppingWish.in, FindYogi, ShopMania, Pricedekho.com and 500startups backed Pricebaba.com etc.