iprice nabs US$550K seed funding from Asia Venture Group

iprice, a Malaysia-based e-commerce platform, has received US$550K in a seed funding round led by Asia Venture Group.

The funding will be used to put in new level integrating machine learning algorithms for categorisation, tagging and personal recommendations, as well as build up partnerships with merchants.

Founded in 2014, iprice operates as a product discovery platform, which features and aggregates products from around 10,000 local and international brands, including e-store portals like Zalora, Lazada and Redmart. The site also has discount and coupon code options, similar to sites like Shopback.

Currently, the site has over three million products from many online store. iprice is live in seven Southeast Asia countries — Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Thailand and Vietnam.

We’ll be updating this as more funding news comes in. Stay tuned!