Parent company behind online coupon aggregator Couponraja and price comparision platform Compareraja – Logicserve Group, has raised $500K in angel round from Mahesh Pratapneni and Pallab Chatterjee.
With the infusion of fresh capital, the company is now planning to enhance its technology infrastructure along with the increase in users base. Both investors have joined the Board of Directors alongside Rohit Chugh and Prasad Shejale.
The company is also planning to launch an offline price comparision service soon. It is currently doing trials for this upcoming service in Mumbai, Pune and Navi Mumbai.
Mr. Rohit Chugh, founder & CEO of Logicserve Group, said,
E-commerce in India is transforming the way we shop. We expect to achieve significant milestones in the next couple of months before we go for our next funding round. Both brands have witnessed exponential growth in the past two years. Mahesh and Pallab’s expertise will help accelerate this growth and establish our brands as a one stop savings destination. We expect to achieve significant milestones in the next couple of months before we go for our next funding round.
The company was founded in 2007 by Rohit Chugh and Prasad Shejale. Couponraja was launched in 2012 and has a team of around 50 people working for Couponraja and Compareraja.
Both portals are available through website and mobile applications for platforms like Android, iOS and Windows Phone. They can also be accessed through a browser plugin.
And even though traction umbers provided by the company to Economic Times seem pretty illusioned and ballooned up to us, Logicserve group claims that both portals receive over 5 million page visits a month and conducts over 3,000 transactions daily for its partner websites, which include Flipkart, Snapdeal, Amazon, Paytm, etc.
