NEA, Orios commit $4m to India's IntelligenceNODE

IntelligenceNODE's technology is intended to help online retailers identify poorly-selling items in order to reduce their stocks, and to recommend optimal prices to boost sales. The company claims that its products can reduce merchandise ordering cycles from six months to ten days.

With the new funds, IntelligenceNODE will hire more engineers and data researchers to improve its platform. The company also plans to expand to the United States, according to a TechCrunch article linked from IntelligenceNODE's Twitter.

The rise of e-commerce in Asia has led to a need for supporting technologies to help the new online retailers manage inventory and target customers effectively. A number of start-ups have received funds to help meet this demand, including India's Indix, which has raised more than $28 million across Series A, Series A-1 and Series B rounds, and Singapore's Antuit, which most recently raised $56 million in a funding round led by Goldman Sachs.

Orios and NEA are both strongly focused on the technology sector. Orios recently launched a $150 million fund to support early-stage Indian tech-focused start-ups, while NEA closed a $2.8 billion global VC fund in April.

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• Topics
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