Indix, a Seattle-Chennai based big data and analytics startup has announced that the company has closed USD 8.5 million of its USD 9 million Series A1 round of funding led by Avalon Ventures and Nexus Venture Partners.
The investment will help Indix to scale its R&D and go-to-market activities.
With this, the company has raised a total of USD 14.4 million till date. It previously raised USD 4.5 million in Series A round from both Nexus Venture Partners and Avalon Ventures, and USD1.4 million in its seed round.
“Our mission at Indix is to organize, analyze, and visualize the world’s product information so everyone can act on it,” said Sanjay Parthasarathy, Founder and CEO of Indix. “As commerce becomes pervasive, every interaction in the physical world or on the web becomes an opportunity to inform, educate, and sell products and to do that well you need a product database with breadth, depth, and quality.”
Founded in 2010, Indix offers product intelligence application for brands and retailers, and APIs for products, prices, promotions, stores and more to power business systems and consumer applications.
It connects apps with products in the same way as Facebook connects apps with people, and Google Maps connects apps with locations. Third-party developers are also able to build product-aware apps based on Indix’s database of products.
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