Nitro Commerce gets first phase of 50 crore funding by Cornerstone Venture partners

Nitro Commerce, a Revenue-as-a-Service stack, announced on June 27 that it had received the first phase of 15 crore of the larger 50 crore fundraising led by Cornerstone Venture partners, according to a press release. The startup has a product which it claims as a revolutionary patent-pending cookieless technology to future-proof marketing.

Nitro has garnered support from notable investors including Cornerstone Venture Partners, Warmup Ventures, Lead Angels, Dholakia Ventures, India Accelerator as well as individual investors Arjun Vaidya, Kunal Khattar, and Nikunj Jain, Piyush Jain.

The company is led by serial entrepreneur Umair Mohammed, known for his previous work at Wigzo Technologies, which he exited in 2021. The Nito Commerce team also includes Atyab Mohammed (COO), Shamail Tayyab (CTO) & Pratik Anand (CBO) brings about 5 decades of experience in the e-commerce arena to the market.

“The mission at Nitro is to democratize complex technologies in this growing landscape of India’s commerce story," said Umair Mohammed, CEO, Nitro Commerce.

The company aims to solve the customer acquisition conundrum for D2C and retail brands.

“Acquisition is one of the biggest challenges faced by upcoming new-age brands. While data sharing has become a norm among enablers it is horrendous from both consumers and upcoming privacy laws such as the DPDPA and the new age Consumers expect nay, 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 added in the statement.

Cornerstone Venture Partners, a prominent investment firm that supports innovative technology startups and helps them scale stated “We love how Nitro is supercharging brands by enabling them with appropriate targeting, enhanced engagement, and enriched experiences for their customers. The platform unlocks value for the brand through the end-to-end customer journey - from identity resolution to centralized data enrichment to building targeted behavioral marketing leading to superlative customer conversions.”

With its strategic funding and innovative approach, Nitro Commerce claims that it is set to address the key growth challenges by enabling it through its innovative technology. This comprehensive approach positions Nitro Commerce as a go-to partner for brands aiming to go big in an increasingly competitive landscape.