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Unbxd Raises $2M From IDG Ventures & Inventus Capital

Bangalore-based Unbxd has raised $2 million in Series A funding from IDG Ventures India and Inventus Capital Partners. The company plans to use the investment raised to strengthen its presence in India, Singapore and North America, build new products and to increase its R&D efforts. As part of the deal, IDG Ventures' Venkatesh Peddi and Inventus' Rutvik Doshi have joined the company board. Unbxd had earlier raised an undisclosed amount of funding from Indian Angel Network (IAN), led by IAN members Manav Garg and Sharad Sharma. Launched in October 2011, Unbxd initially offered an in-site search functionality for websites with a specific focus on e-commerce websites. Over the past year, it seems to have expanded its offerings to provide a product recommendation engine dubbed as Unbxd SmartEngage, which offers search, navigation, merchandizing and analytics solutions for e-commerce companies. The company claims to enable e-commerce sites increase user conversions and thereby sales, by offering personalized category navigation and search results to visitors, tracking visitor interactions in real time and providing personalized product recommendations to users on the site and over email. It currently offers this service through two different plans - CorePlan & CommercePro, depending on the monthly API calls the company needs. Its clients include Madura Fashion & Lifestyle's Trendin.com, CaratLane, Cbazaar, SkoolShop, Yatra's TravelGuru and others. While we are not familiar of an Indian company offering a similar solution, SeedFund-incubated ViralMint had recently added an on-site behavioral and predictive targeting feature, which allows e-commerce businesses to create personalized experiences for their customers based on several parameters like location, time spent, pages they have previously browsed, searches…

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