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Nitro Commerce, an AI-based marketing service provider has raised $5 million in a full-equity Series A funding round led by Cornerstone Ventures.
The round also saw participation from Ankurit Capital, Grand Anicut Angel Fund, Equentis Wealth Advisory Services, India Accelerator & Finvolve, Razorpay Ventures and Rukum Capital.
The startup plans to use the new funding to grow its platform, improve its AI and agent-based capabilities, expand internationally, and hire more people.
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“The entire fundraise is to scale thebusiness. We want to double down on our Indian operations, as the majority of our revenue comes from India,” Nitro’s cofounder and CEO Umair said, adding that the startup has achieved a $5 Mn in ARR and is now targeting $10 Mn.
“We also want to launch some of the products internationally, and already have a few customers from the UAE and the US.,” he added.
Nanika Kakkar, Partner at Cornerstone Ventures, said, “We’re particularly impressed by Nitro’s modular approach, which allows D2C brands to activate across commerce platforms, while delivering unified, cross-channel analytics to meaningfully accelerate growth. We have been longstanding partners with Umair right from his Wigzo journey, and have strong conviction in his ability to execute and build a business of multi-billion-dollar scale.”
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Founded in 2023 by Mohammed, Shamail Tayyab and Pratik Anand, Delhi NCR-based Nitro Commerce provides AI-powered marketing platforms that help brands increase revenue. D2C brands using its tools benefit from intent-based targeting, privacy-focused compliance and performance tracking across multiple ad channels.
The startup runs several products, including NitroX, Nitro Ads, Nitro SSO, Nitro Rewards, Nitro Capital and Nitro Recover.
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