Nova Intelligence secured a $31.5M Series A led by Chemistry to build agentic AI systems for SAP's legacy infrastructure migration by 2030. The funding brings the startup's total capital to over $40M.
Nova Intelligence is tackling one of enterprise software's biggest challenges: modernizing decades-old SAP systems through artificial intelligence.
An estimated 77% of global transactions touch an SAP system at some point, yet much of that underlying code dates back decades. SAP announced in 2023 that customers must migrate to its cloud platform by 2030, creating urgency for enterprises running outdated on-premise systems.
Nova's agentic AI technology automates complex workflows and code migration tasks that would otherwise require extensive manual effort. Rather than simply lifting legacy applications to the cloud, the startup's agents can intelligently refactor and optimize systems for modern infrastructure.
Chemistry led the Series A round, signaling institutional confidence in Nova's approach to enterprise AI automation. The startup now has substantial resources to expand its team and accelerate product development ahead of SAP's 2030 deadline.
The market opportunity is substantial. Thousands of enterprises worldwide depend on legacy SAP systems and face significant operational and financial pressure to complete migration before the deadline. Failed or delayed migrations could disrupt critical business operations, creating strong incentives for automation solutions.
Nova's funding follows broader industry momentum around agentic AI—autonomous systems that can plan and execute complex tasks with minimal human intervention. The enterprise software automation space has attracted significant investor interest, particularly for solutions addressing expensive manual technical debt.
The startup faces competition from larger consulting firms and emerging AI automation platforms. However, Nova's specific focus on SAP migration and legacy systems offers a differentiated angle in a crowded market.
With over $40M in total funding and institutional backing from Chemistry, Nova Intelligence is positioned as a key player in enterprise AI automation for the critical 2030 SAP transition window.
Retro, a friend-focused photo-sharing app founded by former Instagram employees, has secured $21 million in Series A funding. The capital injection signals investor confidence in the social app's differentiated approach to photo sharing.
Sweden has built one of Europe's most vibrant startup ecosystems, drawing attention from investors and entrepreneurs across the continent. Cherry Ventures general partner Sophia Bendz breaks down the factors driving the Nordic nation's tech boom.
Metriport secured $26M in Series A and seed funding led by Matrix GP, bringing its total funding to $28.4M. The startup provides tools that enable doctors to retrieve and manage patient data.
Faro, an AI platform for clinical trial optimization, closed a $37.3 million Series B round co-led by Merck Global Health Innovation Fund and S32. The funding will support development of data models and AI tools designed to streamline trial processes.