Bangalore: Indix today announced that it had secured $4.5 million in new funding from leading venture capital firms, Nexus Venture Partners and Avalon Ventures. Indix had previously raised $1.4 million in financing from seed investors, including Nexus Venture Partners.

Indix is a Seattle, USA, and Chennai, India, based company working on big data, analytics, visualizations and applications that help product and services companies manage and get the most out of their product portfolio. Indix is building a cloud-based product for individuals in businesses around the world and will continue to be in stealth mode until later this year.

“Indix is working on a disruptive concept that addresses a compelling need”, said Naren Gupta, co-founder & MD, Nexus Venture Partners. “Indix has a brilliant team and we are very excited to work with them”.

Indix was founded in late 2010 and started operating in late 2011. Indix has a world-class engineering and product team based out of Chennai, India. Indix’s founders have broad and diverse technology experience having worked at Microsoft, Cerent, Cisco, Caymas, NetScaler, Citrix and ThoughtWorks, amongst others.

“We love that Indix is pioneering a new type of business application that is data and insight rich and visually appealing”, said Rich Levandov of Avalon Ventures. “I think it’s going to make the life of a product manager a lot easier”.

“We have really enjoyed working with Nexus this past year”, said Sanjay Parthasarathy, CEO and founder of Indix. “And Avalon’s connection to Seattle and MIT make them a wonderful addition to our list of investors”.

The new funding will be used to accelerate product development and scale marketing and sales in the United States.

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