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Mumbai-based big data analytics startup, IntelligenceNODE, has reportedly raised $733K (INR 5 Cr) from NBFC firm BlackSoil Capital. This is the company’s third disclosed round to date.
Ankur Bansal, Director, BlackSoil Capital said, “We found the products, the technology, the founders and the utility of IntelligenceNode very impressive & path breaking. The company has strong client traction coupled with zero client churn.”
Founded by Sanjeev Sularia and Yasen Dimitrov in 2012, IntelligenceNODE is a technology-backed pricing strategy and business intelligence consulting firm. It offers customised solutions for competitive benchmarking, price and merchandising optimisation to brands and retailers.
The startup provides a suite of tools to help brands and retailers reduce their merchandising cycle from 6 months to 10 days. It also simplifies and streamlines the retail lifecycle in order to analyse their data to help them make informed buying decisions.
“IntelligenceNode has some great aspirations in reaching out to blue-chip MNC’s in global retail. The utility for our products & services is immense and with the help of venture debt provided by BlackSoil our business has got optimum fuel to run and grow faster in this industry,” said Sanjeev Sularia, CEO and co-founder of IntelligenceNode.
In 2014, the company had raised about $350K and used the funds to bring onboard its clients’ timelines from 2 weeks to 30 minutes. It had curated a unique blend of open-source and proprietarily developed tech architecture that helped them achieve single licence margin economics in this industry.
Later, in August 2015, the startup also raised $4 Mn from New Enterprise Associates (NEA) and its existing investor Orios Venture Partners. The funds were then used to expand the global client base as well as to expand its technology team.
The team is also backed by investors such as Gaurav Sharma, Sunil Varrier, Arindam Das, Anupam Mittal and Gul Mukhey.
[The development was reported by TeleAnalysis.]
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