Product recommendation platform for e-commerce companies, Unbxd Inc has closed Series B funding from IDG Ventures, Indian Angel Network(IAN), Nirvana Venture and Inventus Capital. However, the amount raised is not known so far.
The company will use the new funds for scaling the product, hiring talent, and developing infrastructure. Venkatesh Peddi, executive director, IDG Ventures India, also commented
“Unbxd has grown very aggressively, and its successful expansion into North American markets validates its huge potential,”
In Series A round of funding, the company had raised $2 million from IDG Ventures India and Inventus Capital Partners. It was during that time that Venkatesh Peddi from IDG Ventures and Rutvik Doshi from Inventus joined Unbxd’s board. In addition, the company had raised an undisclosed amount in funding from IAN prior to Series A funding.
This Bangalore based startup was founded in October 2011 by Pavan Vilas Sondur (CEO) and Prashant Kumar (CTO). Unbxd Inc, is an on-site product discovery software for ecommerce companies that provides search, navigation, product recommendations, merchandizing and analytics solutions for eCommerce companies. Unbxd’s products make it easier for eCommerce players to showcase targeted & relevant products and recommendations to visitors and track visitor interactions.
Unbxd has quickly grown into a leading personalization, search & recommendations provider in India. The company’s core values are innovation, accuracy and reliability. Unbxd’s highly optimized cloud infrastructure enables several e-commerce platforms to provide advanced search and recommendations on their websites.
The company claims to have served 200 million online shoppers till now.
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