Bangalore-based Unbxd has raised an undisclosed amount of funding from Indian Angel Network (IAN). The funding round was led by IAN members Manav Garg and Sharad Sharma with Manv Garg joining the company’s board.
The company plans to use the money raised to improve its product, expand its reach to e-commerce players across the world and for hiring.
Founded in October 2011, Unbxd offers an in-site search functionality for websites, with a special focus on e-commerce portals. It is currently developing a software as a service (Saas) version of the Unbxd search called ‘Unbxd Search Cloud’ and plans to launch a beta version of the product in November. Going forward, Unbxd also plans to expand to other verticals like travel, matrimony, retail, classifieds and others in the future.
Customers: When we checked, the company website had a landing page suggesting that the website will be launched soon. However, a YourStory.in article suggests that the company already has 15 customers including IndiaPlaza and TravelGuru.
Other Players: Google offers a custom search engine service, which enables website owners to add a search box to their web pages and allow users to search across only that specific domain in the basic version while the premium version further allows website owners to customize the search engine design, feature ad-free search results and remove Google branding among other features.
The basic version is available free of cost while the premium version is available through various subscription plans depending upon the search queries received every year, starting from $100 for 20,000 search queries to $2000 for 500,000 search queries.
Recent IAN Investments: Earlier in the month, Aurus Networks had raised an undisclosed amount of funding from Indian Angel Network (IAN). Prior to this, Indian Angel Network along with Blume Ventures had invested in the social gaming company Hashcube. Interestingly, Indian Angel Network has also invested in an online gaming startup Gamiana in February 2012. Other recent IAN investments from IAN include Rs 2 crore funding in the Mumbai based Geographical information systems startup Birds Eye and $500,000 funding in the hotel booking portal Stayzilla.com.