Indix, a start-up company that has 46 employees in both Seattle and Chennai, India has just raised $8.5 million in additional funding, thanks to Avalon Ventures and Nexus Venture Partners. The company is founded and run by a former Microsoft executive, Mr. Sanjay Parthasarathy, who actually was the person who hired Microsoft’s new CEO, Mr. Satya Nadella, 22 years ago.
Indix’s new funding will go to continue building and marketing its product intelligence platform, which lets businesses visualize and analyze a wealth of real-time product data, including costs, price fluctuations, reviews, and much more. Businesses such as retailers can track how products are being sold and at what price online, which can help determine which products it should carry and how much to sell it for. Microsoft is already using the platform to compare how its third party sellers and distributors sell’s Microsoft products.
Indix is another example of how having a giant corporation like Microsoft in our backyard pays off in drawing creative, talented, and smart individuals from all over the world to our region who in turn create their own companies here, an ongoing cycle that keeps Greater Seattle at the forefront of innovation.