Mumbai-based retail analytics startup Intelligence Node has raised USD 1 million from Cornerstone Venture Partners aided by ValPro’s startup advisory division, Enablers.
Intelligence Node operates a competitive intelligence and price optimisation platform that helps retailers track products at the stock-keeping unit (SKU) level as well as keep track of several analytics and trends. It offers products such as InCompetitor, InOptimizer and InFeed, which enable its customers to get an overview of the competitive landscape in terms of pricing and visibility. They also suggest the most optimum pricing for a company’s products.
The round will help drive the next phase of growth for the company given the significant customer traction and revenues achieved.
Cornerstone is a sector agnostic $ 70 mn fund that is investing in technology-based consumer and enterprise businesses. The technology-focused VC firm, set up by Rajiv Vaishnav and Abhishek Prasad, two former Reliance Industries executives, has invested in the Intelligence Node through Cornerstone Venture Partners Fund – I.