wordpress blog stats
Connect with us

Hi, what are you looking for?

Big data company Indix raises $8.5M from Avalon and Nexus

indix-logo-86d3be6a247076ce8915abab07cfbe5fBig Data company Indix with offices in Chennai and Seattle has raised $8.5 million of a $9 million round co-led by Avalon Ventures and Nexus Venture Partners. The company will use the funding for product development and engineering efforts, apart from investing further in marketing and sales operations.

Indix’s product offerings include a product intelligence application for brands and retailers, and APIs for products, prices, promotions and stores. It can help brands and retailers discover insights on pricing and assortment in real-time, apart from monitoring products and sellers across a market. The company claims its customers include some of the world’s top 50 Internet brands and retailers and has 46 employees in India and the United States as of now.

It has so far raised $14.4 million over two rounds till now. It had raised $4.5 million from Nexus Venture Partners and Avalon Ventures in April 2013 and had raised $1.4 million from a group of investors including Nexus Venture Partners before that.

Other investments in big data companies

Bangalore-based big data firm Spire Technologies, had raised $8 million in a Series A funding round from unnamed investor, at a valuation of $23 million in December last year. News and data analytics platform Heckyl Technologies had raised over $3.5 million in Series B investment led by IDG Ventures in the same month.

India has seen a steady increase in the number of big data analytics companies entering the market here in the last few years. Walmart launched its Walmart Lab in November 2011 in India to focus on big data generated through mobile and social media.

Yahoo had opened its lab for big data inside the IIT Madras campus. Earlier this year MasterCard Advisors, a division of MasterCard had acquired an undisclosed stake in Mu Sigma, an analytics and decision sciences firm.

You May Also Like

News

Paytm has hived off its payment gateway business into a separate entity, Paytm Payments Gateway Service Pvt Ltd, and has infused ₹100 crore worth...

News

The Delhi High Court on Monday refused to stop Amazon from pushing regulators to stop the sale of the Future Group’s businesses to Reliance...

News

Pine Labs has raised around $100 million in fresh funds from Lone Pine Capital, a hedge fund based in the United States, at a...

News

Restaurant aggregator and food delivery company Zomato has raised US$660 million (over ₹4,850 crore), taking its valuation to ₹3.9 billion. CEO Deepinder Goyal tweeted...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ