NuvoRetail, a leading e-commerce marketing and analytics company, has successfully raised $350k in a recent funding round. The company plans to utilize the funds to further develop its AI-ML driven platform, Enlytical.ai, which specializes in e-commerce bid automation, insights, and reporting. Additionally, the investment will support NuvoRetail’s global expansion efforts, according to a press release issued by the company.
Launched in 2017 by Vishal Sharma, Enlytical.ai offers a comprehensive solution for managing various aspects of e-commerce operations across multiple platforms. The platform provides a unified panel that tracks and manages key performance indicators (KPIs) such as sales, marketing, portfolio management, content, supply chain management, pricing, and customer loyalty. By integrating these functions, Enlytical.ai enables brands to gain a holistic understanding of their business and product performance.
NuvoRetail’s platform also features an AI-based media spends optimization engine. This engine leverages advanced AI algorithms to analyze campaign performance and optimize media budget allocation. The company claims that this innovation ensures a higher return on investment (ROI) by minimizing wasteful spending and maximizing audience engagement through retail readiness signals.
NuvoRetail faces competition from other industry players such as Concent, Agora PH, and Domain Bharat. However, the company remains confident in its ability to deliver superior results through its cutting-edge technology and data-driven approach.