Indix planning to build largest database in the world

Indix, which is in the process of building the world's largest database of products, has raised $15 million (Rs 95.3 crore) from Nokia Growth Partners, Nexus Venture Partners and Avalon Ventures.  The company plans to grow its workforce and expand sales and marketing efforts. The company's tool is used by brands, retailers and developers to deliver the right product to the right customer. The platform provides access to intelligence on offers and catalogue, including price, promotions, channels, competition, assortment, and attributes of more than one billion products.

"Product intelligence is now an essential service for commerce," said chief executive Sanjay Parthasarathy.  He further explained that Google simply started with knowing locations and so it created Maps. Now a multitude of features are built on the map functionality. Similarly, Indix wants to be the go-to destination for information on all types of products, tech and non-tech.

The company has 24 customers across brands, technology firms and merchants. The Seattle-headquartered firm plans to double its workforce of 80 people over the next two years and move to a new workspace.