Big-data analytics startup IntelligenceNODE raises Rs 26 crore in Series-A funding
The Mumbai-based startup, founded by Sanjeev Sularia and Yasen Dimitrov, provides customised solutions to brands and retailers.
By Madhav Chanchani, ET Bureau | Updated:
MUMBAI: IntelligenceNODE, a big-data analytics startup, has raised Rs 26 crore in a Series-A funding led by Silicon Valley-based New Enterprise Associates (NEA) and seed investor Orios Venture Partners.
The Mumbai-based startup, founded by Sanjeev Sularia and Yasen Dimitrov, provides customised solutions to brands and retailers for competitive benchmarking as well as price and merchandising optimisation. It had raised Rs 2 crore in 2014.
"The next 12 months' target will be to get to half a million monthly net recurring revenues, which gives us a $6 mil lion annual run rate," said Sularia, IntelligenceNODE's 32-yearold chief executive who previously served as the finance chief of e-tailing startup Exclusively.in.
While the company's current revenue is evenly split between India and overseas, it expects the share of foreign revenue to increase to 80% in the next 12 months. IntelligenceNODE plans to hit the road again in three to four months to raise $15-20 million in a Series-B round. It has 60 clients and counts companies like Indix and Boomerang Commerce as its main competitors. NEA, which raised $3.1 billion earlier this year, has been looking to step up investments in India.
The Mumbai-based startup, founded by Sanjeev Sularia and Yasen Dimitrov, provides customised solutions to brands and retailers for competitive benchmarking as well as price and merchandising optimisation. It had raised Rs 2 crore in 2014.
"The next 12 months' target will be to get to half a million monthly net recurring revenues, which gives us a $6 mil lion annual run rate," said Sularia, IntelligenceNODE's 32-yearold chief executive who previously served as the finance chief of e-tailing startup Exclusively.in.
While the company's current revenue is evenly split between India and overseas, it expects the share of foreign revenue to increase to 80% in the next 12 months. IntelligenceNODE plans to hit the road again in three to four months to raise $15-20 million in a Series-B round. It has 60 clients and counts companies like Indix and Boomerang Commerce as its main competitors. NEA, which raised $3.1 billion earlier this year, has been looking to step up investments in India.
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Text: Ishani Duttagupta, ET Bureau
You know that India is in the midst of a startup boom when a motley bunch of foreign entrepreneurs (and non-resident Indians) band together to form an Expat Entrepreneurs Circle (EEC) for, amongst other reasons, to lean on each other in their quest to get a business going in an alien country.
EEC was born some three years back in — where else — Bengaluru to provide a platform for exchanging business ideas, access to information and resources, networking opportunities and training from those who’ve met with reasonable success in India’s startup ecosystem.
You know that India is in the midst of a startup boom when a motley bunch of foreign entrepreneurs (and non-resident Indians) band together to form an Expat Entrepreneurs Circle (EEC) for, amongst other reasons, to lean on each other in their quest to get a business going in an alien country.
EEC was born some three years back in — where else — Bengaluru to provide a platform for exchanging business ideas, access to information and resources, networking opportunities and training from those who’ve met with reasonable success in India’s startup ecosystem.
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