Retail Analyst IntelligenceNODE Wins Expansion Funds

In India, retail big data specialist IntelligenceNODE has raised $4m in a Series A round of funding, which it will use to expand to the US and hire more engineers / data scientists to build out its platform.

In India, retail big data specialist IntelligenceNODE has raised $4m in a Series A round of funding, which it will use to expand to the US and hire more engineers / data scientists to build out its platform.

Based in Mumbai, the firm uses a proprietary online decision support system to deliver business intelligence dashboards. Its INCompetitor pricing and assortment data platform enables users to track and benchmark competitor products and catalogues, while also accessing data on market and seasonal trends; while the customisable INOptimizer tool compares past market movements across products and competitors, and forecasts 'what if' scenarios to help clients develop pricing strategies.

New funding has been led by New Enterprise Associates (NEA) and Orios Venture Partners, and following a seed round last year, brings the total to date to $4.4m.

Commenting on the investment, NEA's Tarun Sharma said: 'What appealed to us was that IntelligenceNODE has been able to address the most difficult problems in retail analytics through a productised approach. We expect this round of funding to expand the product's commercialisation footprint in India and overseas markets'.

The firm, which was co-founded by Sanjeev Sularia and Yasen Dimitrov, is online at www.intelligencenode.com .