Cornerstone Ventures Leads USD 5 Mn Series A Round in Nitro Commerce

AI-based marketing services provider Nitro Commerce has raised USD 5 million in a Series A funding round led by Cornerstone Ventures. The round also saw participation from India Accelerator & Finvolve, Equentis Wealth Advisory Services, Grand Anicut Angel Fund, Razorpay Ventures, Rukum Sitara Fund, and Ankurit Capital.

The Gurugram-based startup plans to use the fresh capital to accelerate platform-led growth, expand its workforce across key functions, strengthen its AI and agentic capabilities, and scale its international operations.

Founded in 2023 by Umair Mohammad, Shamail Tayyab, and Pratik Anand, Nitro Commerce operates as an AI-driven marketing automation platform focused on e-commerce and direct-to-consumer (D2C) brands. The platform provides a suite of tools designed to improve various aspects of digital commerce operations, including storefront management, single sign-on, link management, customer rewards, collaboration features, and advertising solutions.

Nitro Commerce aims to address challenges such as rising customer acquisition costs and slower organic growth faced by independent e-commerce and D2C brands. Its products are built around intent-based targeting, privacy-first compliance, and cross-channel performance measurement for advertising campaigns.

The startup operates multiple business lines under its umbrella, including NitroX, Nitro Ads, Nitro SSO, Nitro Rewards, Nitro Capital, and Nitro Recover. At the core of its offerings is NitroX, which functions as a commerce identity network that helps brands convert anonymous users into identifiable customers and combine online and offline interactions into a single customer view.

Through Nitro Ads, the startup enables brands to reach high-intent users across platforms such as food delivery apps, payment platforms, and OTT and connected TV channels, moving beyond traditional social media and search advertising. The platform relies on first-party data, real-time intent signals, and outcome-linked pricing, along with full-funnel analytics.

According to the startup, its identity network is currently used by more than 2,500 brands, including Imagine Online, Rare Rabbit, Dot & Key, Pepperfry, Blue Tokai, VIP Industries, and Neeman's. Nitro Commerce claims it has matched users to around 120 million shopping profiles, enabled over 5 billion ad impressions per month, and generated more than INR 20 crore in gross merchandise value.

The funding follows a period of strong growth, with Nitro reporting a 10x increase in revenue over the past year, reaching USD 5 million in annual recurring revenue. The company is now targeting USD 10 million in ARR over the next six months.