Netotiate, a provider of e-commerce software for merchants, has raised $1.6 million in its first round of venture capital, according to a new filing by the company with the Securities and Exchange Commission.

Netotiate is breaking down all the barriers between shoppers and merchants in the world of online shopping. We have cracked the e-commerce code for good by giving customers the ability to bargain over the price right at the most critical point in the decision making process. Founded in 2011, Netotiate has R&D offices in Tel Aviv, Israel.