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E-com marketing and analytics company NuvoRetail raises $350k

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E-commerce marketing and analytics company NuvoRetail has raised $350k in a new funding round. The funds will be used to develop its Enlytical.ai, an AI-ML driven platform for e-commerce bid automation, insights, and reporting, while also supporting global expansion efforts, NuvoRetail said in a press release. Launched in 2017 by Vishal Sharma, Enlytical.ai provides a unified panel to manage multiple e-commerce platforms across different KPIs like sales, marketing, portfolio, content, supply chain management, pricing, loyalty etc. It allows brands to understand how their business and products are performing. According to the Delhi-based company, its platform also includes an AI-based media spends optimization engine that leverages cutting-edge AI algorithms to analyze campaign performance and optimize media budget allocation. The company claims that it ensures a higher ROI by minimizing wasteful spending and maximizing audience engagement based on retail readiness signals. It competes with Concent, Agora PH, and Domain Bharat.