The startup is planning on a U.S. expansion with $4million in Series A funding
By Catherine Shu
Mumbai-based IntelligenceNODE, a big data analytics startup that serves retailers, has raised $4 million in Series A funding led by New Enterprise Associates and Orios Venture Partners. The company plans to expand in the United States and hire more engineers and data scientists to build its platform, which helps brands figure out the best merchandising strategies for their products.
IntelligenceNODE claims that its technology allows retailers to reduce their merchandise life cycle from six months to ten days by recommending prices and identifying items that are underperforming so they can be cleared from inventories. It also categorizes products that can be marketed together to increase margins. The startup’s tools are especially helpful for fashion brands, which need to push out new products as quickly as possible. IntelligenceNODE’s current clients include Uniliver, Tata, Jockey, and PrettySecrets, an online lingerie store in India.
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