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Nokia Growth leads Series B for India's Indix

  • Holden Mann
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Nokia Growth Partners has led a $15 million Series B round for Indian cloud-based analytics start-up Indix. Existing investors Nexus Venture Partners and Avalon Ventures took part in the round as well.

Indix's Product Intelligence Platform collects information such as pricing and availability for nearly a billion products. In addition, the company produces visualizations and other analytic products for businesses to help inform their decisions.

"Every business has realized that in order to compete, they need deep product information that's constantly up to date," said Indix founder and CEO Sanjay Parthasarathy in a statement. The company will use the new funding to expand its engineering and science teams, accelerate technology development, and grow its sales and marketing efforts.

This round is the fourth investment in Indix by Nexus and the third by Avalon. Both firms participated in Indix's $8.5 million Series A-1 round last year, and together committed $4.5 million in Series A funding in 2013. Nexus also provided seed funding to Indix.

Nokia Growth Partners provides growth-stage investments to start-ups globally, with a focus on the mobile industry. Previous Asia investments include participating in Chinese food ordering app Meican's Series C round earlier this year, and in the Series A round for Chinese crowdtasking platform WeiChaiShi in 2014.

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