Angel investors Ronnie Screwvala and K Ganesh have seed-funded Oximity, a global online media start-up for user-generated news. Co-founded by former Wall Street banker Sanjay Goel and German information technology entrepreneur Christian Hapke, Oximity connects news sources directly to readers in about 180 languages globally. Started six months ago, US-based Oximity has about 2,500 writers generating 700 news stories daily. Its writers and readers are spread across 200 countries, while the company has staff in Berlin (Germany), London (UK), San Francisco (US), Ramallah (Palestine), Moscow (Russia) and Guangzhou (China). Users can write stories for themselves or for an organisation. Oximity helps in monetising their content, while charging users on a freemium model - free basic services and top-up charges for the rest - employed by publications like The Economist for digital editions.
Nexus, Avalon invest in Indix
Indix, a software as a service (SaaS) and big data product intelligence platform company, has closed $8.5 million of a $9-million series A-1 round of financing, led by Avalon Ventures and Nexus Venture Partners. This investment will allow Indix to increase research and development and go-to-market activities. This round brings Indix's total funding to $14.4 million. It earlier raised $4.5 million in a series-A round from both Nexus and Avalon, receiving $1.4 million in financing from seed investors. Founded in 2010, Indix is based in Seattle, US, with a product development and engineering team in Chennai. Since the launch of its platform in October last year, the Seattle office has grown to nine employees and the company employs a total of 46 people in the two countries. Indix's offerings include a product intelligence application for brands and retailers and some of the world's top 50 internet brands and retailers are among its customers.
