Indix today announced that it has secured $4.5 million in new funding from Nexus Venture Partners and Avalon Ventures. Indix had previously raised $1.4 million from seed investors, including Nexus Venture Partners.
Indix is a company working on big data, analytics, visualizations and applications that helps 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, which will continue to be in stealth mode until later this year. “We have really enjoyed working with Nexus this past year. And Avalon’s connection to Seattle and MIT make them a wonderful addition to our list of investors,” said Sanjay Parthasarathy, CEO and founder of Indix.
About the stealth product, Naren Gupta, co-founder & MD, Nexus Venture Partners would only reveal that: “Indix is working on a disruptive concept that addresses a compelling need.” While Rich Levandov of Avalon Ventures had this to share: “We love that Indix is pioneering a new type of business application that is data and insight rich and visually appealing. I think it’s going to make the life of a product manager a lot easier”.
Indix was founded in late 2010 and started operating in late 2011. It has an office in Seattle, USA and Chennai. Indix has a world-class engineering and product team based in Chennai. Indix’s founding team members have broad and diverse technology experience and have worked at Microsoft, Cerent, Cisco, Caymas, NetScaler, Citrix and ThoughtWorks in the past.
The new funding will be used to accelerate product development and scale marketing and sales in the United States. The company might even upgrade their espresso machine!