Hamburg-based nuvo, a SaaS startup that offers AI-powered data onboarding solutions, announced on Tuesday that it has secured €3M in a seed round of funding.
The funding round was led by La Famiglia, joined by new and existing investors, including FoodLabs, APX and Collective Ventures, Exxeta Ventures, and various business angels.
The German company will use the funds to develop its artificial intelligence algorithms, solidify its position as Europe’s leading solution, and continue expanding globally.
The announcement comes over a year after raising its pre-seed funding in April 2022.
nuvo: Developing AI-powered API for customer data onboarding
The idea first arose when the founders Michael Zittermann and Ben Hartig noticed millions of businesses manually and painfully restructuring messy spreadsheets they receive from clients daily.
These companies ran into countless reformatting cycles, wasting months of time and internal resources and diverting focus from their core product.
And here’s where nuvo comes into play!
nuvo offers AI-powered, scalable data onboarding solutions for SMEs and enterprises across the globe.
“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”, says nuvo CTO Ben Hartig. “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.”
Automated data mapping, validation, and cleaning help businesses scale data ingestion, eliminate errors, and free up resources.
With the company’s intelligent API for external data, software companies can seamlessly accept data from their customers, accelerating time-to-value and client satisfaction.
“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,” adds Michael Zittermann, nuvo CEO.
La Famiglia is a European seed and growth-stage venture capital fund investing in technology companies that enable or disrupt large industries.
Paula Hübner from La Famiglia adds, “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.”