By October 14, 2013 Read More →

Unbxd raises $2 mn Series A round

Bangalore-based Unbxd, a product recommendation engine for ecommerce companies, has raised $2 million as part of its Series A round of funding from IDG Ventures India and Inventus Capital Partners. The funds will be used to strengthen the company’s market presence in India, Singapore and North America and ramp up R&D capabilities.

The company had raised an undisclosed amount in an angel round of funding from Indian Angel Network (IAN) in April 2012. It is not clear whether IAN has exited the company following the Series A round. Update: IAN told us that it remains invested in the company.

Founded in late 2011, the Unbxd SmartEngage platform enables ecommerce companies to increase sales by recommending the right products to visitors on ecommerce sites. It tracks online shoppers in real-time and delivers personalized shopping experiences. The platform is being used by companies such as Trendin, CaratLane and CBazaar.

“We see this funding as critical to our expansion plans with a focus on increasing our customer base along with the development of new and existing products,” Unbxd co-founder and CEO said in a press release. Sondur, who was earlier with Gluster and NetApp, founded the company with CTO Prashant Kumar, earlier with Huawei and Tavant Technologies.

Following the latest round of funding, Venkatesh Peddi from IDG Ventures and Rutvik Doshi from Inventus join the Unbxd board.

Image credit: Unbxd

Posted in: Deals, Internet, News