Product intelligence firm Indix raises USD 15 million

Cloud-based product intelligence company Indix has raised USD 15 million (about Rs 94.5 crore) in the second strategic funding from Nokia Growth Partners, Nexus Venture Partners and Avalon Ventures.
The company, which provides analytics and insights for brands, retailers and commerce enablers, will use the funds to grow its team of data scientists and engineers as well as expand sales and marketing efforts, Indix said in a statement.
"Product intelligence is now an essential service for commerce," said Sanjay Parthasarathy, founder and Chief Executive of Indix.
"This investment enables Indix to accelerate the development of our product intelligence platform and extend the benefits to new use cases, new customer segments, and new geographies," he added.

Businesses use the Indix App and APIs to speed decision making, improve sale of products and develop ways to create product-aware applications and websites that capitalise on the e-commerce market.
Indix previously raised USD 15 million in funding from Nexus Venture Partners and Avalon Ventures, as well as several industry angel investors.