India: Unbxd raises series B funding from Nirvana, IDG, Inventus and IAN

Photo: Mint

Unbxd Inc., which provides e-commerce product discovery software services, has raised an undisclosed amount of capital in its Series B round of funding, the firm said on Thursday.

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. It had raised $2 million in a Series A in 2013.

Unbxd, founded in 2011 by Pavan Sondur and Prashant Kumar, will use the funds to improve its product, accelerate sales growth and expand its sales and marketing team. It plans to increase its employee count to more than 100 people over the three months from 55 now.

Unbxd helps e-commerce companies by providing them with search, navigation, product recommendations, merchandizing and analytics solutions. It 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.

“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,” said Prashant Kumar.

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This article was first published on Livemint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.