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Indix raises $15M from Nokia Growth Partners, Nexus and Avalon Ventures

Seattle based Indix, a search engine platform and app which crawls product data and analytics, has raised Series B funding worth $15 million from Nokia Growth Partners and existing investors Nexus Venture Partners and Avalon Ventures. Indix will use the funds to add to its team of data scientists and engineers while expanding its sales and marketing efforts. It will also accelerate its product intelligence platform development to add new use cases, customer segments and geographies. In March last year, the company had raised $8.5 million of a $9 million round co-led by Avalon Ventures and Nexus Venture Partners.The company had said that it would use the funds for product development and engineering efforts, apart from investing further in marketing and sales operations. It had raised $4.5 million from Nexus Venture Partners and Avalon Ventures in April 2013 and $1.4 million from a group of investors including Nexus Venture Partners before that. Indix was co-founded by Sanjay Parthasarathy, Sridhar Venkatesh, Satya Kaliki and Rajesh Mupalla in 2010. The company’s Product Intelligence platform provides brands, retailers and commerce enablers deep insights, machine learning algorithms and product information like price, assortment and channel among other attributes for over 1 billion products. The app and APIs help businesses understand product sale and develop product-aware apps and websites to cash in on the ecommerce market. The company claims to track over 800 million products across over 7,000 categories and has offices in Seattle, San Francisco and Chennai. Funding in the big data space: - Earlier…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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