Big data and SaaS product intelligence platform Indix Corporation secures funding from Nokia Growth Partners, Nexus Venture Partners and Avalon Ventures. Indix Corporation is a product analysis company for brands and retailers.
Indix is building the world’s largest product database and Product Intelligence Platform that helps businesses boos productivity, drive innovation and accelerate growth. By using the Indix App and API’s, businesses can improve discovery and product search. They can optimize their promotions and offers, product enrichment along with catalog attributes. With the help of Indix, businesses can analyse the market and competitors.
Indix Corporation has 800+ million products which is growing daily consisting 40,000+ brands, 600,000+ sellers, 7,000+ categories and 10,000+ attributes. The company provides comprehensive product information using varying completeness of input criteria. They have classified their product offering into Apps, API’s and Reports.
Indix Corporation assists search for products with the use of plain text, UPC, MPN, ASIN or SKU. They offer relevance of products through key filters such as category, price range, brand, product availability and much more. Businesses can optimize offers and promotions with the help of Indix Corporation analytics. They can discover actionable insights on the store compared competitors and use the analysis center to optimize by fine tuning pricing, promotions, assortment and availability.
Indix assists businesses to analyse competition by comparing, analyzing and visualizing the products of businesses against the competitors. Indix provides several inputs such as assortment, pricing, promotions, MAP violations and customize list of products. They also assist to discover new and unknown competitors.
Indix Corporation assists businesses to automate market intelligence with the help of automated reports such as Pricing Opportunity report, MAP Violations Report, Product Availability Report and On Demand Reports. The businesses can access insights quickly and pin the relevant insights on price, promotions, availability, competition, assortment and much more. The businesses can match products across multiple retailers with the help of search and matching service capabilities to discover matches of products supplied across multiple retailers. Businesses can maximise the profit with the help of these analysis.
The company was founded in 2010 by Rajesh Mupalla, Satya Kaliki, Sridhar Venkatesh and Sanjay Parthasarathy, who is the Chief Executive Officer of Indix Corporation. He has graduated in Bachelor of Engineering in Mechanical Engineering from College of Engineering, Guindy, Chennai in 1986. He went on to Massachusetts Institute of Technology for his higher studies in engineering and management from 1986 to 1990. He started his career as Corporate Vice President in Microsoft in 1990. Sanjay worked with Microsoft for 19.3 years and in 2010 he co founded Indix Corporation. He has two patents in his name.
Sridhar Venkatesh is co founder of Indix Corporation. He has graduated his Bachelors and Masters in Electrical Engineering from Massachusetts Institute of Technology from 1989 to 1994. In 1997, he became senior hardware designer for Cerent Corporation and moved on to become Manager, product marketing and Sales Engineering of the company. He worked with Cerent for 2.3 years and joined CISCO Systems in 1999 as Senior Manager, Product Line Management. He worked with CISCO for 2.2 years and moved as Senior Director – product management and marketing in Caymas Systems in December 2001. He worked with Caymas for 5.7 years. In August 2007 Sridhar became Chief Executive Officer of CDOT Alcatel Lucent Research Center, which he managed for 4.10 years and in June 2012, he co founded Indix Corporation.
Satya Kaliki is co founder and Vice President in Indix Corporation. He handles engineering and architecture at the company. He has graduated in Bachelor of Engineering in Computer Science from Sathyabama University, Chennai in 1996. He further studied at RMIT University in 1997 – 1998.
In June 2001, Satya became Global Product Management Director and Chief Architect in iSOFT. He was responsible for product strategy execution, research and development, partner relations, product portfolio management and rationalization. He worked with iSOFT for 5.7 years and became Chief Technology Officer of Zanec Technologies in May 2007; he worked with the company for 4.8 years. He became interim Chief Technology Officer for CRICO/RMF of Harvard Medical Institutions in May 2009. Meanwhile Satya became Director of Kaliki Associates in January 2007 till now.
Rajesh Mupalla is co founder and Director of Engineering in Indix. He has graduated in Bachelor of Engineering in Computer Science from University of Pune in 2002. He worked as project intern in Indigo Architects in July 2001 and became a developer in the company in July 2002. Rajesh went to become Technical Architect at the company in July 2006. He worked with Indigo Architects for almost 3 years.
In October 2008, Rajesh became Lead Consultant at ThoughtWorks and moved on to become Senior Developer to Tech Lead in the company in March 2011. He worked with ThoughtWorks till December 2011 and became co founder of Indix Corporation in January 2012.
Indix Corporation received their first funding through debt financing in October, 2011 for $250 K and second debt financing of $1.1 million in April, 2012. The company secured their Series ‘A’ funding in two pockets from leading PE investors Anthemis Group, Nexus Venture Partners and Avalon Ventures, for $6 million in April, 2013 and $8.5 million in Mar, 2014. Indix Corporation has secured Series ‘B’ funding for $15 million from Nokia Growth Partners.
The funding will be used for expansion of data scientists and engineers along with sales and marketing team. Indix Corporation showed exemplary Q1 results with 250% growth on year over year revenue. Seattle based company has product development center and engineering team in Chennai.
After funding Upal Basu, Partner at Nokia Growth Partners said “We are very pleased to back the world class team at Indix and support the global expansion of their industry leading Product Intelligence platform.” He further said “Commerce is dramatically changing and Indix has distinguished itself by having a highly scalable platform as well as a bold vision for the industry.”