Unbxd, a Bangalore-based startup focused on product recommendation, has raised a Series A round of $2 million (Rs 12.4 crore) from Inventus Capital Partners and IDG Ventures India. The funds will be used by Unbxd to strengthen its presence in Singapore and in the North American markets, while a substantial portion will also be used towards furthering its research and development efforts.
This is the second round of institutional funding for the two-year-old startup, which had raised funding from Indian Angel Network in 2012. Unbxd's proprietary product recommendation platform, SmartEngage, provides search, navigation, merchandising and analytics solutions for e-commerce ventures, making it easier for them to showcase targeted and relevant products and recommendations for consumers.
Source: Economic Times
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