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

Big 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…

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