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December 14, 2023

Data Onboarding, nuvo Secures €3M to Propel AI-Driven Solutions

A pivotal aspect of this revolution, has witnessed the rise of innovative platforms like Product Fruits and Transak

Embarking on a transformative journey in the realm of data onboarding, nuvo, an AI-powered data onboarding solutions provider based in Hamburg, has successfully secured €3 million in seed funding. The investment, spearheaded by La Famiglia, renowned for backing Mistral AI and EthonAI, witnessed enthusiastic participation from existing investors such as FoodLabs, APX, Collective Ventures, Exxeta Ventures, and a cadre of strategic business angels.

In an era resonating with the disruptive ripples of AI, nuvo stands as a beacon, bringing innovation to the forefront of SaaS solutions. AI-driven onboarding is redefining norms, offering a swift, secure, and cost-effective alternative to traditional methods. The surge of investments in platforms like Product Fruits and Transak signaled a burgeoning trend, and nuvo now takes the stage, aligning with the zeitgeist of the evolving SaaS landscape.

Born out of the need to streamline a cumbersome process, nuvo emerged from a marketplace business, identifying the colossal challenges businesses faced in importing product-related data. Co-founders Ben Hartig and Michael Zittermann recognized the arduous journey businesses traversed, grappling with manual restructuring of chaotic spreadsheets, draining months of time and internal resources. The nuvo journey began with a vision to harness the power of AI, offering a universal platform to effortlessly map and transform data into desired structures.

Armed with AI algorithms, nuvo doesn't just address the complexities of data onboarding but aspires to automatically handle every unique use case. The company's growth since 2022 underscores its commitment, with a growing clientele that includes RiskMethods, Sastrify, Lano, and FMS Logistics. nuvo's CTO, Ben Hartig, emphasizes the liberating impact of their SDK, allowing clients to focus on core functionality while effortlessly handling diverse data formats.

nuvo's funding infusion propels the evolution of its AI algorithms, solidifying its position as Europe's leading data onboarding solution. The roadmap includes global expansion and the development of an AI-powered API for external imports, providing software companies with a seamless mechanism to accept and integrate customer data. Paula Hübner from La Famiglia envisions nuvo as a pivotal player in the landscape of data movements, emphasizing its potential to become a leading platform for heterogeneous data.

Beyond innovation, nuvo places a premium on security and compliance. Michael Zittermann, nuvo CEO, underscores the commitment to Europe's GDPR laws, ensuring the utmost security by not processing sensitive customer data. As the company steers toward building a comprehensive API for file-based data, the focus remains on being the most secure and compliant solution for businesses navigating the intricate realm of data onboarding.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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