Data Analytics startup IntelligenceNode today said it has raised Rs 5 crore funding from Mumbai based specialized financing NBFC firm BlackSoil Capital Private Limited. The company, in August 2015, had raised around Rs 26 crore from NEA & Orios Capital ventures.
“We found the products, the technology, the founders and the utility of IntelligenceNode very impressive & path breaking. The company has strong client traction coupled with zero client churn. We have great hopes from the company and wish the team all the luck for its future endeavors” – said Ankur Bansal, Director, BlackSoil Capital Private Limited.
IntelligenceNode is also backed by marquee angel investors, viz. Gaurav Sharma, Sunil Varrier, Arindam Das, Anupam Mittal and Gul Mukhey.
Launched in 2012 as a consulting service, IntelligenceNode is providing technology-based products and service providers to global retail players. It has a total customer base of 35 clients and covers over 1 bn+ unique products of over 130,000 brands. The company’s two products (InCompetitor & InOptimizer) enable the customers to get an overview of the competitive landscape in terms of pricing & visibility. It also suggests the client the most optimum pricing for its products. Its strong back-end analytics process is able to support a wide range of offerings in terms of refined data in the most efficient matter
“IntelligenceNode has some great aspirations in reaching out to blue-chip MNC’s in global retail. The utility for our products & services is immense and with the help of venture debt provided by BlackSoil our business has got optimum fuel to run and grow faster in this industry” – said Sanjeev, CEO and Co-founder of IntelligenceNode.
After investments in Cloud based telephony company “Knowlarity”, Indian arm of NASDAQ listed company Groupon “Nearbuy”, BlackSoil has completed its third Venture debt transaction with “Intelligence Node”. In six months of its operation, the NBFC has reached a INR 75 Crores loan book across 7 transactions and in process to expand their loan book to Rs 100 Crores by March 2017.
BlackSoil is backed by the family offices of respected corporate houses such as: Gala family – Promoters of Navneet Education Limited, Shetty family – Promoters of Avvashya Group and Mr Virendra Gala, a renowned real estate expert in Mumbai.