Angel backed data & analytics company Indix has raised $4.5 mn in new funding from Nexus Venture Partners and Avalon Ventures. The company had earlier raised $1.4 million from a clutch of angel investors including Vishal Gondal, K Ganesh, Geoff Entress, Pradeep Rathinam & the venture funds that have invested in the new round.
The Seattle & Chennai based company works on big data, analytics, visualisation and application that help product and services companies manage and get the most out of their product portfolio. “Indix is building a cloud-based product for individuals in businesses around the world and will continue to be in stealth mode until later this year,” the company said.
The company was founded by former Microsoft Vice President Sanjay Parthasarathy and four others. As it says on the company blog, the team started off to build a search engine for numbers. But then, Indix moved on to a project which aims at empowering product managers with data, tools and applications.
The company’s blog says:
“What would the product manager be capable of if we gave them the data, the tools and the applications that would help them come up with new product ideas, set the right prices, manage promotions and make their offerings available to their customers in the best ways possible.”
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