Mumbai-based IntelligenceNODE, a big data analytics startup, has raised Series A funding worth $4 million from New Enterprise Associates (NEA) and Orios Venture Partners, reports ET. The company will use the funds for client base expansion and augmenting its technology team. The company claims that it provides its clients intelligence which reduces the merchandising cycle from 6 months to 10 days through trends in high velocity unstructured data. Started in 2012 by Yasen Dimitrov and Sanjeev Sularia, it helps retailers with pricing and merchandising analytics by recommending prices and identifying underperforming items to be struck out. It also categorises products for co-marketing to increase margins. IntelligenceNODE has two products: iNCompetitor, which is a pricing and assortment data platform, which works with online and offline retailers and iNOptimizer, which uses price and merchandising algorithms to adjust pricing and assortment for increasing profit margins. It also helps stores design layouts and promotions targeted at impulse purchases. IntelligenceNODE claims to have clients in Unilever, Tata, Jockey and online lingerie store PrettySecrets. The TC report also added that so far, IntelligenceNODE had raised $4.4 million in funding, and claims that its revenues grew 450% between last year and this year. Funding in the big data space: – Last month, Big data and analytics startup Flytxt raised $11 million in funding led by Sunrise Capital GmbH and Big Data Investments B.V. with participation from Flytxt’s existing investors Cliffton Holding, IVC Venture Capital AG, RM Beteiligungsverwaltung GmbH and Schnell Consult GmbH. – In June, Seattle based Indix,…
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