SaaS & Big Data firm Indix raises $15M from Nokia Growth Partners, existing investors

SaaS and Big Data product intelligence startup Indix Corporation has raised $15 million (Rs 95 crore) in its Series B round of funding round led by Nokia Growth Partners. Existing investors Nexus Venture Partners and Avalon Ventures also participated in the round.

"This new investment enables Indix to accelerate development of our Product Intelligence platform and extend the benefits to new use cases, customer segments and geographies," said Sanjay Parthasarathy, founder and CEO of Indix.

Founded in 2010, Indix is based in Seattle with a product development and engineering team in Chennai. It offers a product intelligence application for brands and retailers, and APIs for products, prices, promotions, stores and more to power business systems and consumer applications.

The funding will also help it grow its team of data scientists and engineers.

“Commerce is dramatically changing and Indix has distinguished itself by having a highly scalable platform as well as a bold vision for the industry," said Upal Basu, partner at Nokia Growth Partners.

Indix currently tracks more than 800 million products over 7,000 categories. It has an office in San Francisco also.

Last year in March, the company raised $8.5 million co-led by Avalon Ventures and Nexus Venture Partners. It previously raised $4.5 million in a Series A round from both Nexus Venture Partners and Avalon Ventures, and received $1.4 million in financing from seed investors, including Nexus.

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