Nitro Commerce has raised Rs 15 crore in a seed funding round led by Cornerstone Ventures

Nitro Commerce, a revenue-as-a-service platform for e-commerce and D2C brands, has secured seed funding of Rs 15 crore led by Cornerstone Ventures.

Well-known investors also participated in the financing round, including: Warmup Ventures, Lead Angels, Dholakia Ventures and India Accelerator, as well as individual investors Arjun Vaidya of V3 Ventures, Kunal Khattar of AdvantEdge Founders, Nikunj Jain of OpenInApp and Piyush Jain of CarePal.

This is the second time Cornerstone has supported the Founders group; the first was with Wigzo, which Cornerstone financed from its Fund I before Shiprocket bought it in 2021.

The funding will be used to build foundational technologies to support mid- and upper-funnel acquisition and enrichment for D2C and e-commerce brands.

By democratizing this technology, making it easier for merchants to access and deploy, and delivering it as a service, Nitro aims to achieve profitability by 2025.

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Founded in 2023 by Umair Mohammed, Atyab Mohammed, Shamail Tayyab and Pratik Anand, Nitro Commerce is a new-age technology platform dedicated to modern online brands. The startup claims to have joined over 100 D2C brands in the last six months. By the end of the year, it wants to increase this number to over 1,000 brands.

“Nitro’s mission is to democratize complex technologies in this emerging landscape of India’s trade history. Acquisitions are one of the biggest challenges facing upcoming new-age brands,” said Umair Mohammed, CEO of Nitro Commerce.

“While data sharing has become the norm among data enablers, it is scary for both consumers and upcoming privacy regulations like DPDPA. In this new era, consumers expect and demand privacy. Our technology solves both use cases. We are working to enable brands and partners, both through our proprietary cookieless technology, to address these challenges using a secure, privacy-focused approach,” Mohammed added.

By 2027, D2C brands in India are projected to be worth over $60 billion, at a 40 percent compound annual growth rate. India’s GDP per capita has increased by more than 200 percent over the last 20 years, and the country’s huge customer base – driven mainly by a rapidly growing middle class – is the reason for the market explosion.