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Unbxd raises funds from Nirvana, IDG Ventures, Inventus Capital & Indian Angel Network

06-May-2016
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Unbxd raises funds from Nirvana, IDG Ventures, Inventus Capital & Indian Angel Network

Unbxd, the Bengaluru based leading provider of ecommerce product discovery software, has secured an undisclosed amount of capital in the Series B round of funding. The funding was led by entities advised and managed by Nirvana Venture Advisors, along with existing investors including IDG Ventures, Inventus Capital, and Indian Angel Network. This is slated to help the startup grow faster, and scale the product to dominate the online retail market globally.

 Speaking on the development, Pavan Sondur, Co-Founder & CEO at Unbxd said, “We are delighted to have secured this significant Series B round of funding. 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.”

The startup has been actively helping ecommerce companies deliver a truly superior shopping experience that is relevant and personalized as per the usual behaviour patterns of their customers. Their platform is already serving 200 million ecommerce visitors a day. They expect to grow 10x  by the end of this year. Established in 2011, Unbxd has already acquired some big ticket clients and a versatile team that believes in providing a truly exceptional customer experience. Additionally, the product’s potential to become the disruptor in the market segment has been the key driving force behind the successful Series B funding of the brand.

 “We are excited to partner with the Unbxd team in their endeavor to bring world class search experiences to retailers who have an online presence.   We have been very impressed by the capabilities of the team and are looking forward to the company further expanding their global footprint.” said Rajan Mehra, Managing Director at Nirvana Venture Advisors.

 According to Venkatesh Peddi, Executive Director at IDG Ventures India, “Unbxd has grown very aggressively, and their successful expansion into North American markets validates their huge potential”. He added, “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.”

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. “Our relevancy engine and machine learning models have consistently delivered value to some of the biggest ecommerce sites in the world,” said Prashant Kumar, Co-founder and CTO. He added, “Had Unbxd been a standalone ecommerce site, we would be the biggest ecommerce company in India in terms of volume of traffic and GMV served.”

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Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.