A revenue as a service platform Nitro commerce for ecommerce and D2C brands, has secured Rs 15 crore ($1.8 million) in a seed funding round led by Cornerstone Ventures. The round also saw participation from Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator as well as individual investors Arjun Vaidya , Kunal Khattar, Nikunj Jain and Piyush Jain.
The new funding will be used in developing core technologies that support the sourcing and enrichment for ecommerce and D2C brands, company said in a statement.
Co-founded in 2023 by Umair Mohammed, Atyab Mohammed, Shamail Tayyab, and Pratik Anand, Nitro Commerce is a full-stack revenue-as-a-service platform for the ecommerce and D2C markets. The platform aims to provide technologies to the industry that aid the top and middle of the funnel in order to help customers seamlessly increase revenue and super-charge their growth.
The co-founders had previously launched Wigzo which was acquired by Shiprocket back in 2021.
Nitro also aims to reach profitability by 2025 by democratising its technology, making it easy for merchants to access and deploy, and offering it as an outcome-as-a-service.
The startup claims that it has on boarded more than 100 D2C brands in the past six months and aims to grow this number to over 1,000 brands by the end of the year.
According to the Gurugram-based company, it will introduce an innovative approach to integrate e-commerce and digital advertising with bespoke and intelligent data-driven offerings. It competes with the other players in this space such as Klaviyo, Elastic Path Software, Bango, Yotpo, Rokt and others.