iprice group, a Kuala Lumpur, Malaysia-based online shopping community company, received US$550k in funding.
Asia Venture Group (AVG) made the investment.
Founded in October 2014 by Heinrich Wendel, iprice already offers more than 3 million products from over 10,000 local and international brands, sourced through trusted online stores.
Shoppers can browse through the products by categories, brands, models and colours, amongst other attributes. All products are automatically linked to special promotions and coupons that are offered by the respective e-commerce stores.
The service is already live in Singapore (iprice.sg), Malaysia (iprice.my), Philippines (iprice.ph), Hong Kong (iprice.hk), Thailand (ipricethailand.com), Indonesia (iprice.co.id) and Vietnam (iprice.vn).
The company aims to improve machine learning algorithms to further improve the search experience and provide individual recommendations according to the user’s browsing behaviour.