IntelligenceNODE, a Big Data analytics startup in India, has closed US$4 million in Series A funding led by New Enterprise Associates (NEA) and seed investor Orios Venture Partners.The funding will be used to expand its global client base and to further build its technology team.
Founded by Sanjeev Sularia and Yasen Dimitrov, IntelligenceNODE is a Big Data analytics lab specialising in retail and brands. It provides customised solutions for competitive benchmarking, price and merchandising optimisation to brands and retailers. Its tools help brands and retailers reduce their merchandising cycle from six months to 10 days. The platform also simplifies and streamlines the entire retail life cycle by providing valuable tools for retailers to analyse their data and make more informed buying decisions.
“We are providing intelligence that reduces the typical merchandising cycle from six months to 10 days by extracting trends from high velocity unstructured data, resulting in both margin and bottom-line gains for clients,” said Yasen Dimitrov, co-founder and COO of IntelligenceNODE.
The Mumbai-based startup was founded by Dimitrov and Sanjeev Sularia in August 2012.
IntelligenceNODE claims its platform simplifies the entire retail life-cycle by providing retailers with tools to analyse data and make more informed buying decisions. A member of IBM Global Entrepreneurship Program and SAP Start-Up Focus, IntelligenceNODE has clients in India, Europe, South East Asia and North America.