Unbxd raises $12.5 million from Eight Roads, others

June 19
21:22 2017

Moneycontrol News

Unbxd, a cloud-based product discovery platform for e-commerce has raised USD 12.5 million in Series C funding led by Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd.

Existing investors IDG Ventures, Inventus Capital Partners and Nirvana Ventures also participated in the round.

The funds raised will be invested in enhancing Unbxd’s proprietary Intelligence Engine.

Unbxd will also open new offices, to be closer to its customers in Chicago and New York.

The company claims that its artificial intelligence (AI) powered platform enables online retailers to capture the 15-40% in revenue that is lost due to a poor product discovery experience.

According to the company its AI powered personalized product discovery platform understands users’ intent to enhance their online shopping experiences, increasing conversions and revenue.

Avendus Capital was the exclusive financial advisor to Unbxd’s Series C round.

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