Delhi-based ecommerce marketing and analytics startup NuvoRetail raises $350,000

Delhi-based ecommerce marketing and analytics startup NuvoRetail has raised $350,000 in a funding round. 

The startup said the latest investment would advance the development of Enlytical.ai, its AI-ML-driven platform for ecommerce bid automation, insights, and reporting. 

Apart from this, It will also focus on bolstering its efforts to expand its operations globally.

“Securing this funding marks a pivotal milestone for NuvoRetail. Our mission has always been to equip e-commerce businesses with cutting-edge tools and strategies. With this investment, we are poised to broaden our global presence, enhance our AI capabilities, and continue leading the way in e-commerce marketing innovation," said founder Vishal Sharma.

Focus on Enlytical.ai's AI-driven capabilities

Enlytical.ai is an AI-ML-based solution that offers a comprehensive dashboard for managing multiple ecommerce platforms. 

It covers a wide range of key performance indicators (KPIs) such as sales, marketing, portfolio management, content, supply chain management, pricing, and customer loyalty.

This unified platform allows brands to gain a clear understanding of their business and product performance, enabling more informed decision-making.

Leveraging advanced AI algorithms

The platform also has an AI-based media spend optimization engine, which uses advanced AI algorithms to analyze campaign performance and optimize media budget allocation.

By focusing on retail readiness signals, the platform aims to maximize audience engagement while minimizing unnecessary spending, ultimately driving a higher return on investment (ROI) for businesses. 

On-shelf analysis and competition benchmarking

In addition to its media spend optimization, Enlytical.ai offers tools for on-shelf analysis and competition benchmarking. These features allow businesses to track and analyze their competitors' strategies, pricing, and product offerings in real-time.

The insights gained from these analyses enable companies to make informed decisions that can increase their market share and improve ROI.