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Cloud-based Big Data Startup Indix Grabs $15 Million Funding

Bangalore: Indix, a Cloud-based SaaS product intelligence platform, raises $15 million in a round led by Nokia Growth Partners, Nexus Venture Partners and Avalon Ventures. The company will utilize the funds to increase its workforce and to expand its sales and marketing efforts. Previously, Indix had raised $4.5 million from Nexus Venture Partners and Avalon Ventures and in March 2014, it raised $8.5 million in Series A round from its existing investors Avalon and Nexus.

Founded in 2010 by Sanjay Parthasarathy, Sridhar Venkatesh, Satya Kalki and Rajesh Muppalla, Indix is a Seattle based Saas and big data analytics company. Indix’s product offerings include a product intelligence application for brands and retailers, and APIs for products, prices, promotions, stores and more to power business systems and consumer applications. Indix’s current customers include some of the world’s top 50 Internet brands and retailers.

The Seattle based startup also has a R&D setup in Chennai and has a workforce of 80 in Seattle and Chennai. The company claims to have captured around 250 million product URLs, over 50,000 brands and nearly 10,000 product attributes as a part of its database.

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