PrismaStar Inc., a London, UK-based product search company, recently received a £2m investment from Octopus Investments.
The new funds, which were provided from the Octopus Titan VCT funds, the Eureka EIS Portfolio Service and the Octopus Venture Partners, will enable the company to expand in the growing US, UK and EC market for online retail.
Founded in 2005, PrismaStar has developed a patented technology that is designed to help consumers find the best products and services, personalised to their individual tastes, in the e-commerce market. It enables users to find products based on multiple product specifications, not only on “price” or “brand”, giving shoppers the confidence to make the best decision about which product to buy.
Commenting on the funding, Joshua Tabin, CEO of PrismaStar, said that Octopus’ support will help the company grow and expand the business into new markets where internet shopping is fast becoming the norm”.
The company also operates offices in Chicago, IL, USA, and Poděbrady, Czech Republic.