Sanjay Parthasarathy, former executive of Microsoft, is betting big on the data analytics space through his start-up Indix, a cloud-based intelligence platform that provides insights about products real time to brands, retailers and developers.
Founded in 2012, Indix has already created a database of 500 million products in the cloud, and is looking to scale it up to 1 billion listings.
“We are planning to do the same for products what Bloomberg and Thomson Reuters did for financial information through their terminals. Today, product information is available on Google, but they are without personalised insights. That is what this venture is trying to over come,” Sanjay Parthasarthy Founder and CEO, Indix, said. Prior to Indix, Mr. Sanjay Parthasarthy had a 19-year stint at Microsoft.
Using Indix software platform, businesses can see how its line of products compares with that of competition, with details on pricing, availability and inventory. Brand managers could see how their products are priced (whether higher or lower) versus competition and frame their strategy accordingly.
“We now have coverage of all of consumer retail (except for autos and we don’t focus on books, music and videos). Our focus will continue to be on the B2B segment,” said Mr. Parthasarathy.
The firm has 20 clients, including Microsoft.
Indix raised $8.5 million from Avalon Ventures and Nexus Venture partners this year.
