Total amount raised
$14.5 Millions
Latest funding date
01/01/2019
Location
Unbxd has successfully raised funding through multiple rounds, with notable investors including InnoVen Capital and IDG Ventures. The company was acquired by Netcore Cloud for $100 million on March 24, 2022.
Keep reading to explore the intricacies of Unbxd's fundraising journey and the investors backing this innovative e-commerce product discovery platform.
What Is Unbxd?
Unbxd, founded on October 4, 2011, by Pavan Sondur and Prashant Kumar, is an e-commerce product discovery platform headquartered in Bengaluru, Karnataka, India. The company leverages artificial intelligence and advanced data sciences to connect shoppers with products they are most likely to buy.
Operating with a workforce of 101-250 employees, Unbxd specializes in AI-powered solutions to enhance e-commerce performance. Their offerings include search and browse functionalities, real-time recommendations, customer engagement tools, and email solutions, all aimed at personalizing shopper journeys and improving conversions.
How Much Funding Has Unbxd Raised?
- Seed Round
- Amount Raised: Not specified
- Date: September 2012
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to start the company and develop the product.
- Series A
- Amount Raised: $2M
- Date: October 2013
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and scale initial operations.
- Non-Equity Assistance
- Amount Raised: Not specified
- Date: February 2014
- Lead Investors: Not specified
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not specified
- Venture Round
- Amount Raised: Not specified
- Date: August 2014
- Lead Investors: Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not specified
- Series B
- Amount Raised: Not specified
- Date: May 2016
- Lead Investors: Nirvana Venture Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the business and enhance the product offering.
- Series C
- Amount Raised: $12.5M
- Date: June 2017
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, enhance the intelligence engine, and expand into new markets (Chicago and New York).
- Venture Round
- Amount Raised: Not specified
- Date: January 2019
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not specified
Total Amount Raised: $14.5M
Current Valuation: Not publicly disclosed
Key Investors
- InnoVen Capital
- Details: InnoVen Capital is a venture debt firm that provides debt capital to high-growth companies in India, China, and Southeast Asia. It is backed by Temasek Holdings and United Overseas Bank.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Swiggy, Byju's, OYO Rooms
- Eight Roads Ventures
- Details: Eight Roads Ventures is the proprietary investment arm of Fidelity International Limited. It focuses on investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Alibaba, Appsflyer, Icertis
- IDG Ventures
- Details: IDG Ventures is a global network of venture capital funds with approximately $3.6 billion under management. It invests in technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Flipkart, Myntra, Lenskart
- Inventus Capital Partners
- Details: Inventus Capital Partners is a venture capital firm that invests in early-stage technology companies. It focuses on helping entrepreneurs build successful businesses.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: PolicyBazaar, Sokrati, RedBus
- Nirvana Venture Advisors
- Details: Nirvana Venture Advisors is a venture capital firm focused on early-stage investments in technology companies. It aims to support innovative startups in their growth journey.
- Investment Focus Areas: Early-stage technology investments
- Notable Investments: Housing.com, Zopper, KartRocket
What's Next for Unbxd?
Unbxd stands at the cusp of significant growth opportunities, driven by the increasing reliance on AI to enhance e-commerce experiences. With plans to expand into new markets like Chicago and New York, the company aims to capture a substantial share of the multi-billion-dollar e-commerce product discovery market. Their AI-powered platform is poised to improve online shopping experiences, potentially recovering up to 40% of revenue lost due to poor product discovery.
Given their rapid growth and market potential, Unbxd is likely to seek additional funding rounds to further enhance their technology and expand their market presence. However, they will need to navigate challenges such as managing the complexity of AI solutions and staying ahead in a competitive market. Continuous innovation and strategic expansions will be crucial for maintaining their growth trajectory.
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