5 May, 2016, Mumbai: In its recently concluded funding round, Unbxd has raised an undisclosed amount of funding in its series B round. The round was headed by Nirvana Venture Advisors, along with existing investors including IDG Ventures, Inventus Capital and Indian Angel Network.
The company is a joint venture of Pavan Sondur and Prashant Kumar. Founded in 2011, it deals in providing e-commerce firms solutions related to navigation, product recommendations, merchandizing and analytics. Company plans to utilise its funds in enhancing its product, to ramp up its sales and to strengthen its sales and marketing team.
Speaking on the development, Prashant Kumar said, “Our relevancy engine and machine learning models have consistently delivered value to some of the biggest eCommerce sites in the world. Had Unbxd been a standalone e-commerce site, we would be the biggest e-commerce company in India in terms of volume of traffic and GMV served.”
Unbxd helps companies solve search and other queries for almost 200 million e-commerce visitors in a day. Eighty-five percent of the companies Unbxd services are outside India, primarily North America.
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