Nitro Commerce raises Rs 15 crore in funding led by Cornerstone Ventures, others

Revenue-as-a-service Nitro Commerce has recently raised Rs 15 crore in funding in the first phase of a planned Rs 50 crore fundraising effort.

The startup is led by serial entrepreneur Umair Mohammed, the founder of Wigzo Technologies. Joining Umair in this venture are Atyab Mohammed (COO), Shamail Tayyab (CTO), and Pratik Anand (CBO), who collectively bring five decades of experience in e-commerce.

Who are the investors?

The funding round was led by Cornerstone Venture Partners, with participation from Warmup Ventures, Lead Angels, Dholakia Ventures, and India Accelerator. Notable individual investors include Arjun Vaidya, Kunal Khattar, Nikunj Jain, and Piyush Jain.

Nanika Kakkar, Partner at Cornerstone Venture Partners, said, "Nitro supercharges brands with appropriate targeting, enhanced engagement, and enriched customer experiences." Arjun Vaidya, a prominent investor, referred to the platform as "the shovel for the e-commerce revolution."

The startup will use the raised capital to develop core technologies that support sourcing and enrichment for e-commerce and D2C brands. 

What does Nitro Commerce do?

Founded in 2023, Nitro Commerce is a new-age technology platform dedicated to empowering modern online brands with the ability to enhance and enrich their customer leads.

The startup claims to have onboarded over 100 D2C brands in the past six months and plans to expand this number to 1,000 by the end of the year. It aims to reach profitability by 2025 by making its technology accessible and easy to deploy.

"The mission at Nitro is to democratise complex technologies in this growing landscape of India's commerce story. Acquisition is one of the biggest challenges faced by upcoming new-age brands. While data sharing has become the norm among enablers, it is horrendous for both consumers and upcoming privacy laws such as the DPDPA," said Umair Mohammed, CEO at Nitro Commerce.

"In this new age, consumers expect and demand privacy. Our technology solves both use cases. We are working towards enabling brands and partners, both through our proprietary cookieless tech, to solve these challenges with a secure and privacy-first approach," Mohammed said.