Nexus Venture Partners backed data analytics company, Indix has launched its SaaS and big data product intelligence platform that targets brand managers, price analysts, retail merchandisers and product managers.
The company claims that the product allows brands to help them with brand product management, category management, pricing, marketing, sales, product line management, product design, business and financial analysis. The product also helps retailers with merchandising, pricing, category management, product information management, buying, planning, sales, business and financial analysis.
The Indix app apparently provides access to all of the public data in its system including products, SKUs, competitors and categories and provides real time insights on pricing, markdowns, availability, among others. Customization features related to reports, notifications, lists, reports, alerts and dashboards are available to product managers .
The product helps brands track product / pricing information among key competitors, optimize pricing strategy within core categories, and maintain a 360 degree view of industry trends.
The company is also introducing a beta version of its APIs for third-party developers to build applications that incorporate information and insights about products and services.
Based out of Chennai, Indix was co-founded by Sanjay Parthasarathy, Sridhar Venkatesh, Satya Kaliki, Rajesh Mupalla and Jonah Stephen. The company had raised $4.5 million from Nexus Venture Partners and Avalon Ventures in April 2013 and had previously raised $1.4 million from a group of investors including Nexus Venture Partners.