Bangalore-based Unbxd, an E-commerce 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.
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.”
Incepted in 2011, the platform is serving 200 Million eCommerce visitors a day and expect to grow 10x in by end of this year.
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. 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.”
Unbxd is now looking at strengthening its reach in the North America region increasing its user base for enterprise retail customers.