Hamburg-based nuvo has secured €3 million in seed funding to forward the development of its worldwide applicable AI-powered external import API, which will make it easier for software firms to receive and incorporate client data.
La Famiglia led the investment round, with participation from a number of new and returning investors, included Exxeta Ventures, FoodLabs, APX and Collective Ventures, and business angels.
With the funding, nuvo aims to continue growing internationally, enhance its artificial intelligence algorithms, and establish itself as the best option in Europe.
nuvo CTO Ben Hartig said, “The complexities involved in onboarding data from various files and structures are enormous. With our AI algorithms, we strive to automatically handle every unique use case, thereby enabling all our customers to transform their external data into valuable assets, Once our SDK is implemented in our client’s application, it covers even the most complex edge case, freeing valuable development resources to focus on building core functionality.”
Names like RiskMethods, Sastrify, Lano, and FMS Logistics are just a few of the market areas that nuvo has grown its clientele across since obtaining pre-seed funding in April 2022.
Paula Hübner from La Famiglia added: “We believe that file-based data will remain a common denominator in the overwhelming majority of companies – and nuvo has the potential to become a leading platform for heterogeneous data movements.”
Michael Zittermann, nuvo CEO said, “Thanks to our unique front-end processing, we naturally adhere to Europe’s strict GDPR laws by not processing any of our customers’ sensitive data. We will continue building the most comprehensive API for file-based data while aiming to be the most secure and compliant solution for our customers,”.
Ben Hartig and Michael Zittermann, the company’s founders, saw how much time and effort it took their clients to input product-related data into their software solution, so they decided to spin out nuvo from an earlier marketplace.
Michael Zittermann and Ben Hartig started nuvo, a software as a service (SaaS) startup, in Hamburg in 2022 with the objective of offering the greatest import options for client data onboarding. The concept was initially inspired by the observation that millions of companies were still laboriously and manually organising the disorganised spreadsheets they received from clients on a regular basis.