[dropcap]B[/dropcap]angalore-based product discovery platform, Unbxd Inc., which provides e-commerce product discovery software services, has raised an undisclosed amount of capital in its Series B funding with the round led by entities advised and managed by Nirvana Venture Advisors.
Also present were existing investors including IDG Ventures, Inventus Capital, and Indian Angel Network. It had raised $2 million in a Series A in 2013.
Founded in 2011 by Pavan Sondur and Prashant Kumar, Unbxd plans to use the funds in increasing its employee count to more than 100 people over the three months from 55 now.
Sondur, Co-Founder & CEO at Unbxd, said, “The capital raised will help us expand faster, acquire the right talent and further augment our available infrastructure. We are motivated more than ever to build a stronger and robust product and extend the best services possible to our clients.”
Unbxd Inc. is on-site product discovery software for ecommerce companies that provide search, navigation, product recommendations, and merchandizing and analytics solutions for e-commerce companies.
“Our relevancy engine and machine learning models have consistently delivered value to some of the biggest e-commerce sites in the world” said Prashant Kumar, Co-founder and CTO.
Serving nearly 200 million e-commerce visitors a day, Unbxd expect to grow 10 times in by end of this year. Eighty-five percent of the companies Unbxd services are outside India, primarily North America.
Having grown exponentially in the last 10 months, Unbxd is now looking at strengthening its reach in the North America region increasing its user base for enterprise retail customers.
Venkatesh Peddi, executive director at IDG Ventures India, said, “They have grown very aggressively, and their successful expansion into North American markets validates their huge potential. We continue to remain impressed with the passion and drive of the founding team and are happy to be able to support them in their journey.”
