Skip to main content

Deal Alert: Nexus, Avalon invest in fmr Microsoft exec Sanjay Parthasarathy’s analytics co Indix

Indix secures $4.5 million in Series A funding
from Nexus Venture Partners and Avalon Ventures 

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. (For more on the founders, please visit http://www.indix.com/about).

“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. The company might even upgrade their espresso machine.

Nexus Venture Partners is India’s leading venture capital fund, with offices in India and Silicon Valley. Nexus’ team consists of entrepreneurs who have founded and scaled large global companies. It has over $600mn under management with an active portfolio of over 45 companies across technology, Internet, media, consumer, and business services sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market-leading businesses. 

Avalon Ventures is a venture capital fund comprised of former entrepreneurs driven by passionate people pursuing disruptive ideas in ever changing market environments. Avalon's long-standing and successful focus has been on seed and early stage companies, including many it formed in the life science and information technology sectors. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Popular posts from this blog

PE-VC investments in Q2'23 decline 33% to $9.9 Billion

Private Equity-Venture Capital (PE-VC) investments in India during the quarter ended June 2023 (Q2'23), at $9.85 Billion across 182 deals, registered a 33% decrease compared to the same period in 2022 (which saw $14.6 Billion being invested across 371 deals). The investment amount however rose 74% compared to the immediate previous quarter (which saw $5.7 Billion being invested across 181 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The PE-VC investment figures for the first 6 months of 2023 - at $15.5 Billion (across 363 deals) - was 50% lower compared to the same period in 2022 (which saw $31 Billion being invested across 800 deals). Q2’23 witnessed 19 mega deals ($100 M+

Chiratae, Speciale and Stride Ventures win APEX'24 Venture Capital Awards

Chiratae Ventures, Speciale Invest and Stride Ventures were awarded as among the leading Venture Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) VC Investor of the Year Chiratae Ventures received the Venture Capital Investor of the Year 2023 Award on the back of 10 part exits totaling $178 million via Secondary Sales during the year. Its exits included those from retail unicorn Lenskart, SaaS Startup Pixis and baby pr

Blackstone, MO Alts and InvAscent win APEX'24 Private Equity Awards

Press Release Blackstone, MO Alternates (formerly Motilal Oswal PE) and InvAscent were awarded as among the leading Private Equity and Growth Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) PE Investor of the Year Blackstone received the Private Equity Investor of the Year 2023 Award on the back of strong complete exits during the year: from Sona Comstar and IBS Software. Ganesh Mani and Amit Dalmia, Senior Managing D

Avendus tops League Table for Transaction Advisors to PE deals in Q1'23

Aeka Advisors and Ambit claim the No.2 & 3 slot Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for Q1 2023 advising 5 deals worth $808 million. Aeka Advisors stood second having advised 3 deals worth $228 million. Ambit followed with 4 deals worth $160 million. Ernst & Young ($114 million across 4 deals) and o3 Capital ($80 million across 2 deals) completed the top five for Q1 2023. Avendus acted as advisor to ADIA’s $500 million investment in omnichannel eyewear retailer Lenskart . Aeka Advisors acted as advisor to Kreditbee’s $160 million fundraise from Advent International, Mitsubishi UFJ Financial Group (MUFG) and existing investors. Ambit advised the $104 million fundraise of Freshtohome from Mount Judi Ventures, Iron Pillar, Amazon and others. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE

PE-VC investments fall 38% in 2023 to below $30 B

The value of investments by Private Equity - Venture Capital (PE-VC) firms in India fell by 38% to less than $30 Billion in 2023. PE-VC firms invested $29.7 Billion (across 756 deals) in Indian companies in 2023, compared to $47.6 Billion (across 1,362 deals) in the previous year, reports Venture Intelligenc e, a research service focused on private company financials, transactions, and their valuations. (Note: These figures exclude PE investments in Real Estate).                                                                                                                                                                      2023 witnessed 67 mega deals ($100 M+ rounds) worth $21.2 Billion, compared to 112 such investments worth $31.8 Billion in 2022. The $2.4 Billion investment in Manipal Hospitals by Temasek (which gained majority control) and TPG Capital was the largest PE-VC investment in 2023. This was followed by the $1.35 Billion buyout of education loans focused HDFC Credila