Nitro Commerce Raises Rs 15 Crore in Seed Funding Round Led by Cornerstone Ventures

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

The round also saw participation from notable investors, including Warmup Ventures, Lead Angels, Dholakia Ventures, and India Accelerator, as well as individual investors Arjun Vaidya from V3 Ventures, Kunal Khattar from AdvantEdge Founders, Nikunj Jain from OpenInApp, and Piyush Jain from CarePal. 

This is the second time that Cornerstone has supported the Founder group; the first was with Wigzo, which Cornerstone funded with its Fund I before Shiprocket purchased it in 2021. 

The funding will be used to create core technologies that support middle- and top-of-the-funnel sourcing and enrichment for D2C and e-commerce brands. 

By democratising this technology, facilitating merchant access and deployment, and providing it as an outcome-as-a-service, Nitro aims to become profitable 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 start-up claims to have onboarded more than 100 D2C brands in the past six months. It aims to grow this number to over 1,000 brands by the end of the year. 

“The mission at Nitro is to democratize complex technologies in this growing landscape of India’s commerce story. Acquisition is one of the biggest challenges faced by upcoming new-age brands,” said Umair Mohammed, CEO at Nitro Commerce. 

“While data sharing has become the norm among enablers, it is horrendous for both consumers and upcoming privacy laws such as the DPDPA. 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 technology, to solve these challenges with a secure and privacy-first approach,” Mohammed added. 

D2C brands in India are projected to reach over $60 billion by 2027, with a 40 percent compound annual growth rate. India's GDP per capita has increased by over 200 percent in the previous 20 years, and the country's enormous customer base—which is primarily driven by the country's rapidly expanding middle class—makes the case for this market to explode.