Mumbai-based big data analytics startup, IntelligenceNODE, has raised $4 Mn in a funding round led by New Enterprise Associates (NEA) and its existing investor Orios Venture Partners.
The funds will be utilized to expand the global client base as well as to expand its technology team.
Founded by Sanjeev Sularia and Yasen Dimitrov, IntelligenceNODE is a technology backed pricing strategy and business intelligence consulting firm. It offers customized solutions for competitive benchmarking, price and merchandising optimization 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 analyze their data to help them make informed buying decisions.
Last year, the company had raised about $350K and used the funds to bring on-board 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.
“To put it in context: for identical sales aspirations, any competitor would need to raise at least 3x of our current round, to remain competitive,” Sanjeev added.
Rehan Yar Khan of Orios also presented his views on IntelligenceNODE. He said, “We are very pleased to see IntelligenceNODE garner several marquee clients in the US and Europe and we see them growing to become a large and important tool in the hands of retailers and brands. The team will now continue to be largely focused on developing these overseas markets.”