Nitro Commerce Secures Seed Funding of 15 Cr

Nitro Cofounders
Preeti Bali / 6:52 am / June 27, 2024

Nitro Commerce, a company providing revenue-as-a-service (RaaS) solutions for e-commerce and direct-to-consumer (D2C) brands, has secured Rs 15 crore (approximately $1.8 million) in a seed funding round. Cornerstone Ventures led the investment, with participation from Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator, and prominent individual investors including Arjun Vaidya, Kunal Khattar, Nikunj Jain, and Piyush Jain.

Focus on Core Technologies for Customer Growth

The newly acquired capital will be directed towards developing core technologies that enhance sourcing and data enrichment capabilities for e-commerce and D2C brands, according to a statement released by Nitro Commerce. This focus on technological innovation aligns with Nitro Commerce’s mission to empower clients to streamline revenue generation and accelerate business growth.

Experienced Team with Ambitious Vision

Founded in 2023 by Umair Mohammed, Atyab Mohammed, Shamail Tayyab, and Pratik Anand, Nitro Commerce boasts a team with a proven track record. Notably, the co-founders previously launched Wigzo, a company acquired by Shiprocket in 2021. Leveraging their experience, the Nitro Commerce team aims to establish a comprehensive RaaS platform specifically designed to meet the evolving needs of the e-commerce and D2C sectors.

Democratizing Technology for Business Success

Nitro Commerce is committed to making its technology accessible to a broader range of merchants. The company envisions achieving profitability by 2025 through a focus on user-friendly deployments and an “outcome-as-a-service” model. This approach aims to simplify technology adoption and ensure measurable benefits for clients.

Rapid Client Acquisition and Market Expansion

Nitro Commerce reports significant early progress, having successfully onboarded over 100 D2C brands within the past six months. The company projects further expansion, setting an ambitious goal of exceeding 1,000 brands by the end of 2024.

Innovative Approach to E-commerce Growth

Headquartered in Gurugram, India, Nitro Commerce intends to break new ground by integrating e-commerce and digital advertising through a unique blend of tailored and intelligent data-driven solutions. This strategy positions them to compete effectively within the broader RaaS market, facing established players like Klaviyo, Elastic Path Software, Bango, Yotpo, and Rokt.

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