A group of Silicon Valley-based investors, including Vijay Ragavan, former head of engineering at Internet company,Yahoo, are backing a four-month-old ecommerce technology startup ShopInSync.
The firm has built an app that enables shoppers to search and buy products from various online retailers such as Flipkart, Snapdeal and Amazon by integrating them on to a single platform. The app, which was released on Monday on Google's Android platform, offers features such as comparison of product prices. It also enables consumers to collaborate with friends and family to buy products via an integrated messaging service.
“The product solves important consumer pain points and makes purchasing easier,” said Mr. Vijay Ragavan, an angel investor and Chief Technology Officer at San Francisco-based podcasting firm Jabber Labs.
He declined to reveal the amount invested in ShopInSync.
Founded in July by former Yahoo engineers Raj Ramaswamy and Ashish Parnami, ShopInSync aims to make “online shopping more human.” Mr. Ramaswamy said while comprehensiveness and finding the best value ranked among the top factors, most decisions of purchase were made in consultation with family and friends.
“We aspire to bridge both these worlds and bring a seamless, comprehensive and connected shopping experience,” said Mr. Ramaswamy who is also gearing up to release the app on Apple's mobile operating system iOS. The ecommerce market in India is expected to touch $100 billion by 2020 according to industry body Nasscom.