Nitro Commerce Raises USD 5 Million Series A Led by Cornerstone
bolt Executive Summary
- AI marketing platform Nitro Commerce has raised USD 5 million in a Series A round. The round was led by Cornerstone Ventures with several other investors joining. The funds will go toward scaling in India and abroad, better AI tools, and hiring.
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AI marketing platform Nitro Commerce has raised USD 5 million in a Series A round. The round was led by Cornerstone Ventures with several other investors joining. The funds will go toward scaling in India and abroad, better AI tools, and hiring.
Funding details: USD 5 million (Series A)
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Nitro Commerce has closed a USD 5 million Series A round.
Cornerstone Ventures led the investment. Ankurit Capital, Grand Anicut Angel Fund, Equentis Wealth Advisory Services, India Accelerator & Finvolve, Razorpay Ventures, and Rukum Capital also took part.
The company plans to use the capital for platform growth and stronger AI features. It will scale operations abroad and make new hires. Most revenue comes from India right now, but there are already some customers in the UAE and the US.
The co-founder and CEO Umair said the startup has hit USD 5 million in annual recurring revenue. The target is USD 10 million next. The plan includes doubling down on India and taking products to international markets.
The startup is also starting to roll out Nitro Pulse, a new offering that has been piloted with ten clients.
Nitro Commerce is an AI-based marketing platform. It helps D2C brands with intent-based advertising and measuring campaigns across channels. The company is based in Delhi NCR and operates mostly in India.
Source:- YourStory.
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