marketRX Co-founders Raise $2.5m for New Firm

In the US, marketRx co-founders Jassi and Navi Chadha have closed a $2.5m investment deal to fund the creation of Axtria, a firm which offers analytics technology and services tailored to each client's specific business need.

The pair sold life sciences analytics firm marketRx to outsourcing firm Cognizant in 2007 for a reported $135m in cash.

Their new firm has been set up to provide business analytics technology and services to improve effectiveness in sales, distribution, marketing and customer operations across the consumer goods, financial services, high tech, industrial products and retail sectors.

Its first round of financing has been led by Sequoia Capital India, which was also an investor in marketRX.

Sequoia is joined by private investors Richard Braddock, Sandeep Tyagi and Amarpreet Sawhney, who was also a co-founder of marketRx.

As part of the deal, Braddock and Sawhney will join Axtria's Board of Directors, and the New Jersey-based firm will use proceeds from the financing to develop sales, distribution and marketing analytics software products and to expand its current US-based operations into India.

'Business decision makers often don't have the analytics tools to get the right insights at the right time', comments Jassi Chadha, who is President & CEO of the new firm. 'Axtria is developing next generation sales, distribution and marketing analytics software that will put the power of predictive analytics in the hands of sales, distribution and marketing decision makers.'

Web site: www.axtria.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.