{"id":1830,"date":"2023-08-22T12:50:00","date_gmt":"2023-08-22T07:50:00","guid":{"rendered":"https:\/\/priceoye.pk\/blog\/?p=1830"},"modified":"2023-08-25T11:53:59","modified_gmt":"2023-08-25T06:53:59","slug":"priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund","status":"publish","type":"post","link":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/","title":{"rendered":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"962\" height=\"576\" src=\"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1.png\" alt=\"\" class=\"wp-image-1839\" srcset=\"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1.png 962w, https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1-300x180.png 300w, https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1-768x460.png 768w, https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1-810x485.png 810w\" sizes=\"(max-width: 962px) 100vw, 962px\" \/><\/figure>\n\n\n\n<p>It also brought a number of unicorn founders to its cap table, most notably Peter Thiel who founded PayPal and Palantir Technologies \u2014 making it his first investment in Pakistan.<\/p>\n\n\n\n<p>Beenext, an early investor in Indonesian e-commerce platform Tokopedia, DG Daiwa, Mantis VC, HOF Capital, Jet.com\u2019s investor Palm Drive Capital, Atlas Ventures, Immad Akhud of Mercury Bank, and Asif Keshodia of Souq also participated in the seed funding round, in addition to previous investors Fatima Gobi Ventures, SOSV, and Artistic Ventures.<\/p>\n\n\n\n<p>\u201cPriceOye is a managed marketplace for electronics, with recommendations based on the consumer\u2019s requirements, helping them make informed purchasing decisions. The product recommendation engine is used by visitors for product research and has been one of the important drivers of bringing over two million monthly users to PriceOye.pk\u2019s platform,\u201d a press statement said.<\/p>\n\n\n\n<p>The startup, founded by Adnan Shaffi and Adeel Shaffi, claims to have achieved 500 percent revenue growth year-on-year and plans to continue on this trajectory by adding new products and categories on the platform as well as expanding its partner network.<\/p>\n\n\n\n<p>\u201cSome of the biggest problems with shopping for consumer electronics in Pakistan is the presence of counterfeit products and price discrepancies which result in a fractured buying experience for a majority of Pakistani shoppers. PriceOye\u2019s managed marketplace not only gives access to authentic products at great prices but also helps consumers make better shopping decisions through its recommendations system,\u201d Adnan Shaffi, co-founder and CEO of PriceOye, was quoted as saying in the statement.<\/p>\n\n\n\n<p>\u201cPriceOye was hence designed to bring transparency and convenience to the shopping experience and has the highest net promoter score, which measures customer experience and loyalty. As we plan for the next phase of our growth, we are excited to partner with new investors who have placed their trust in us,\u201d he added.<\/p>\n\n\n\n<p>Mantis VC founder and partner Alex Pall added, \u201cWithin a short period of time, PriceOye has grown exponentially and has cemented its position as the leading national company in online consumer electronics. We are excited to join PriceOye in its mission towards changing the way people shop in Pakistan.\u201d<\/p>\n\n\n\n<p>Commenting on the investment, Seamon Chan, managing partner of Palm Drive Capital, which has backed e-commerce unicorn Jet.com, stated, \u201cIt\u2019s always a difficult choice for consumers to spend big amounts of money on high-value products while being unsure about their authenticity. I was inspired by the vision of PriceOye founders Adnan and Adeel of creating transparency and bringing convenience to customers when it comes to shopping for consumer electronics.\u201d<\/p>\n\n\n\n<p>According to the press statement, there is currently no national chain in Pakistan like BestBuy in the US or Croma in India, which are specialized electronics stores. \u201cAbout 50pc of consumer electronics are sold online in the US, whereas in the Pakistani market, which is mostly offline, the shopping experience for customers is completely fragmented.\u201d<\/p>\n\n\n\n<p>Pakistan\u2019s consumer electronics market had an <a href=\"https:\/\/www.marketresearch.com\/MarketLine-v3883\/Consumer-Electronics-Retail-Pakistan-Summary-30249441\/#:~:text=The%20Pakistani%20consumer%20electronics%20market,7.1%25%20between%202016%20and%202020.\">estimated spend<\/a> of $8.5 billion in 2020 and has grown at a compound annual growth rate of 7.1pc between 2016 and 2020, it added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It also brought a number of unicorn founders to its cap table, most notably Peter Thiel who founded PayPal and Palantir Technologies \u2014 making it his first investment in Pakistan. Beenext, an early investor in Indonesian e-commerce platform Tokopedia, DG Daiwa, Mantis VC, HOF Capital, Jet.com\u2019s investor Palm Drive Capital, Atlas Ventures, Immad Akhud of [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":1859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund\" \/>\n<meta property=\"og:description\" content=\"It also brought a number of unicorn founders to its cap table, most notably Peter Thiel who founded PayPal and Palantir Technologies \u2014 making it his first investment in Pakistan. Beenext, an early investor in Indonesian e-commerce platform Tokopedia, DG Daiwa, Mantis VC, HOF Capital, Jet.com\u2019s investor Palm Drive Capital, Atlas Ventures, Immad Akhud of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Priceoye Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-22T07:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-25T06:53:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"962\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Team Priceoye\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Priceoye\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\"},\"author\":{\"name\":\"Team Priceoye\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/6ae0fa5f55b56df89296c502ba401def\"},\"headline\":\"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund\",\"datePublished\":\"2023-08-22T07:50:00+00:00\",\"dateModified\":\"2023-08-25T06:53:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\"},\"wordCount\":521,\"publisher\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\",\"url\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\",\"name\":\"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund\",\"isPartOf\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/#website\"},\"datePublished\":\"2023-08-22T07:50:00+00:00\",\"dateModified\":\"2023-08-25T06:53:59+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/priceoye.pk\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#website\",\"url\":\"https:\/\/priceoye.pk\/blog\/\",\"name\":\"Priceoye Blog\",\"description\":\"Pakistan&#039;s No.1 Store for Electronics\",\"publisher\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/priceoye.pk\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#organization\",\"name\":\"PriceOye\",\"url\":\"https:\/\/priceoye.pk\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2022\/09\/logo-black.png\",\"contentUrl\":\"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2022\/09\/logo-black.png\",\"width\":206,\"height\":101,\"caption\":\"PriceOye\"},\"image\":{\"@id\":\"https:\/\/priceoye.pk\/blog\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/6ae0fa5f55b56df89296c502ba401def\",\"name\":\"Team Priceoye\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fc2eb64023196117a25a584081ad680e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fc2eb64023196117a25a584081ad680e?s=96&d=mm&r=g\",\"caption\":\"Team Priceoye\"},\"url\":\"https:\/\/priceoye.pk\/blog\/author\/jannat\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/","og_locale":"en_US","og_type":"article","og_title":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund","og_description":"It also brought a number of unicorn founders to its cap table, most notably Peter Thiel who founded PayPal and Palantir Technologies \u2014 making it his first investment in Pakistan. Beenext, an early investor in Indonesian e-commerce platform Tokopedia, DG Daiwa, Mantis VC, HOF Capital, Jet.com\u2019s investor Palm Drive Capital, Atlas Ventures, Immad Akhud of [&hellip;]","og_url":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/","og_site_name":"Priceoye Blog","article_published_time":"2023-08-22T07:50:00+00:00","article_modified_time":"2023-08-25T06:53:59+00:00","og_image":[{"width":962,"height":576,"url":"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2023\/08\/Capture-1-1.png","type":"image\/png"}],"author":"Team Priceoye","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Team Priceoye","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#article","isPartOf":{"@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/"},"author":{"name":"Team Priceoye","@id":"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/6ae0fa5f55b56df89296c502ba401def"},"headline":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund","datePublished":"2023-08-22T07:50:00+00:00","dateModified":"2023-08-25T06:53:59+00:00","mainEntityOfPage":{"@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/"},"wordCount":521,"publisher":{"@id":"https:\/\/priceoye.pk\/blog\/#organization"},"articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/","url":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/","name":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund","isPartOf":{"@id":"https:\/\/priceoye.pk\/blog\/#website"},"datePublished":"2023-08-22T07:50:00+00:00","dateModified":"2023-08-25T06:53:59+00:00","breadcrumb":{"@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/priceoye.pk\/blog\/priceoye-pk-raised-7-9-million-in-a-seed-funding-round-led-by-us-based-jam-fund\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/priceoye.pk\/blog\/"},{"@type":"ListItem","position":2,"name":"PriceOye.pk raised $7.9 million in a seed funding round led by US-based JAM Fund"}]},{"@type":"WebSite","@id":"https:\/\/priceoye.pk\/blog\/#website","url":"https:\/\/priceoye.pk\/blog\/","name":"Priceoye Blog","description":"Pakistan&#039;s No.1 Store for Electronics","publisher":{"@id":"https:\/\/priceoye.pk\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/priceoye.pk\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/priceoye.pk\/blog\/#organization","name":"PriceOye","url":"https:\/\/priceoye.pk\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/priceoye.pk\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2022\/09\/logo-black.png","contentUrl":"https:\/\/priceoye.pk\/blog\/wp-content\/uploads\/2022\/09\/logo-black.png","width":206,"height":101,"caption":"PriceOye"},"image":{"@id":"https:\/\/priceoye.pk\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/6ae0fa5f55b56df89296c502ba401def","name":"Team Priceoye","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/priceoye.pk\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/fc2eb64023196117a25a584081ad680e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fc2eb64023196117a25a584081ad680e?s=96&d=mm&r=g","caption":"Team Priceoye"},"url":"https:\/\/priceoye.pk\/blog\/author\/jannat\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/posts\/1830"}],"collection":[{"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/comments?post=1830"}],"version-history":[{"count":4,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/posts\/1830\/revisions"}],"predecessor-version":[{"id":1840,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/posts\/1830\/revisions\/1840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/media\/1859"}],"wp:attachment":[{"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/media?parent=1830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/categories?post=1830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/priceoye.pk\/blog\/wp-json\/wp\/v2\/tags?post=1830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}